Davis Polk Reps Charles River In $1.6B WuXi Deal

Law360, New York (April 26, 2010, 3:59 PM EDT) -- Medical research service and equipment provider Charles River Laboratories International Inc. said Monday that it would buy China's WuXi PharmaTech (Cayman) Inc. in a $1.6 billion cash-and-stock merger.

The deal, which won unanimous approval from boards of directors at both companies and should close by the fourth quarter of 2010, would pay $21.25 per American Depositary Share of WuXi in cash and stock, subject to a collar, the companies said in announcing the agreement.

Charles River said it will finance the cash portion of the transaction...
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