Amgen Inc. (NasdaqGS:AMGN) signed a definitive agreement to acquire deCODE genetics Inc. from Arch Venture Partners, L.P. and Polaris Venture Partners, Inc. for approximately $420 million in cash on December 10, 2012. The transaction will be funded by cash held offshore of Amgen. deCODE’s genetic testing business, deCODEme will be shut down. The transaction has been unanimously approved by the Board of Directors of Amgen and is not subject to regulatory approval. However, ... the transaction is subject to customary closing adjustments and is expected to close before the end of 2012. Frank Aquila, Matthew Hurd, Matthew Friestedt, Ronald Creamer, Blaze Waleski, Zachary Jacobs, Bernd Delahaye, Jason Tyler, Michael Snypes, Kevin Salinger and Julie Newman of Sullivan & Cromwell LLP and Jim Beery and Gregor Frizzell of Covington & Burling LLP acted as legal advisors to Amgen in the transaction. Kasim Kutay, Rick Leaman and Swati Rao of Moelis & Co. acted as financial advisors to Amgen in the transaction. Robert Warren of Foley Hoag LLP acted as legal advisor to deCODE. Ori Solomon and David Jones of Proskauer Rose LLP acted as legal advisors to Arch Ventures.
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