Sullivan & Cromwell Guides Bayer's $1.1B Conceptus Buy

Law360, New York (April 29, 2013, 1:51 PM EDT) -- Bayer AG on Monday said it will shell out $1.1 billion for California contraception company Conceptus Inc., shoring up its massive birth control division as generics pose increasingly intense threats to profits.

The deal gives Bayer a novel product called Essure — Conceptus' only offering — that's intended to permanently prevent pregnancy through use of a quick and minimally invasive procedure that blocks sperm from reaching and fertilizing an egg.

Within two weeks, Bayer plans to launch a tender offer valuing Conceptus at $31 per share,...
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