Novo Nordisk $3.3 billion acquisition of Dicerna Pharmaceuticals
Davis Polk is advising Novo Nordisk on its approximately $3.3 billion acquisition of Dicerna Pharmaceuticals, Inc. Under the terms of the acquisition agreement, Novo Nordisk will initiate a tender offer to acquire all outstanding shares of Dicerna. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing a majority of Dicerna’s outstanding shares, receipt of applicable regulatory approvals and other customary conditions. The transaction is expected to close in the fourth quarter of 2021.
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark, with the purpose to drive change to defeat diabetes and other serious chronic diseases such as obesity and rare blood and endocrine disorders. Dicerna Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing medicines that are designed to leverage RNAi to silence selectively genes that cause or contribute to disease.
The Davis Polk corporate team includes partner William H. Aaronson and associate Samuel Liebmann. The intellectual property and technology transactions team includes partner David R. Bauer and associate David A. Frey. The executive compensation team includes partner Jeffrey P. Crandall and associate Kathleen Ginder. Partner William A. Curran is providing tax advice. Partner Arthur J. Burke is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.