Morgan Lewis Guides Chiesi In $255M Cornerstone Takeover

Law360, New York (September 16, 2013, 1:28 PM EDT) -- Italian pharmaceutical company Chiesi Farmaceutici SpA. said Monday it will buy up remaining shares in Cornerstone Therapeutics Inc. for $255 million in a deal aimed at boosting its presence in the United States and its stake in the respiratory treatment market.

Chiesi, which currently owns 58 percent of Cornerstone, plans to shell out $9.50 in cash per Cornerstone share, the companies said Monday. The deal is valued at approximately $255 million for Cornerstone’s outstanding shares — 26.8 million as of Aug. 1, according to regulatory filings....
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