Freshfields, Wachtell Drive $39B AstraZeneca-Alexion Deal

By Benjamin Horney (December 12, 2020, 10:11 AM EST) -- AstraZeneca, advised by Freshfields, will buy Wachtell-guided Alexion for roughly $39 billion, the companies said Saturday, in a deal that represents the largest acquisition of a U.S. target this year and aims to bolster AstraZeneca's immunology capabilities.

The agreement calls for U.K.-based AstraZeneca PLC to pick up Massachusetts-headquartered Alexion Pharmaceuticals Inc.for a mixture of cash and stock, according to a statement.

Together, the companies say they'll be one of the world's leading pharmaceutical companies with the ability to develop treatments in a range of areas, including immunology, rare diseases, cancer and other illnesses. As part of the deal, AstraZeneca will establish...

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