The Private Equity and Public M&A teams advised Novo Holdings in its entry into a merger agreement with Catalent, Inc. (NYSE: CTLT) under which Novo Holdings will acquire Catalent in an all-cash transaction that values Catalent at $16.5 billion on an enterprise value basis. The merger is expected to close towards the end of calendar year 2024, subject to customary closing conditions, including approval by Catalent stockholders and receipt of required regulatory approvals. Following the closing of the merger, Novo Holdings intends to sell three Catalent fill-finish sites and related assets acquired in the merger to Novo Nordisk (CPH: NOVO).
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
The Goodwin team was led by partners Matt Mauney, Josh Zachariah, Kirkie Maswoswe, Rachel Frankeny and Andrew Kimball and associate Wei Xu, and included Loren Goodman, Peter Moorman, Yifeng Yuan, Andrea Akinbola, Candice Wang and Allison Swecker (Public M&A), Taylor Randazzo, Amina Mokel and Catherine Nickle (Private Equity), Janet Andolina, Kyle Pine and Gregg Coughlin (Tax), Steve Charkoudian, Robert Crawford, Adam Bellack, Alexandra Lu, Morag Peberdy, Achal Oza, Nicole Fontes, David Sackstein, and Jo-an Chen (Intellectual Property), Caroline Bullerjahn, Christina Ademola and Toni Wormald (Litigation), Brian Mukherjee (Insurance), Alexandra Denniston, Malhar Naik, Regina Couto and Zoe Li (Benefits), Edward Holzwanger and Janelle Dempsey (Labor), Jennifer Bralower, Christopher Steinroeder, Jen Necas, Emily Josef and Caroline Tompkins (Debt), Brian Lerman, Juliaana DiGesu, AJ Stautz, Nora Sweeney and Lindsey Falco (Real Estate), Jacqueline Klosek, Alex Intile, Miles Lynn and Isabelle Staff (Privacy), Jake Osborn, Carrie Miller and Gozde Guckaya (Global Trade) and Nathan Brodeur (Environmental), with invaluable assistance from Sheran Sharafi, Julia Chang, Cynthia Li, Jeff Feldmann, Keelin Anne Fitzsimons, Camille Ertel, Nic Warren, Nikol Nerhan, Sarah Mackin, Dan Murray, Steven Moldavskiy and Ahmer Qureshi.
For additional details on the acquisition, please read the press release.