Davis Polk Advises Charles River on Its Acquisition of HemaCare
12/16/2019

Davis Polk is advising Charles River Laboratories International, Inc. on its approximately $380 million acquisition of HemaCare Corporation. The proposed purchase price equates to $25.40 per HemaCare share, which represents a 27% premium to HemaCare’s closing price on December 13, 2019. The transaction has been approved by the board of directors of both Charles River and HemaCare, and certain of HemaCare’s directors, officers and shareholders, which collectively hold more than 50% of HemaCare’s outstanding shares. The transaction, which is expected to close early in the first quarter of 2020, is subject to receipt of certain regulatory approvals and other customary closing conditions.

Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. HemaCare is a global leader in the customization of human-derived biological products and services for biomedical research, drug discovery and cellular therapy process development.

The Davis Polk corporate team includes partner Michael Davis and associate Shanu Bajaj. Partner Kyoko Takahashi Lin and associate Timothy John Durbin are providing executive compensation advice. Partner William A. Curran and associate Liang Zhang are providing tax advice. Partner David R. Bauer and associate Tilak Koilvaram are providing intellectual property and technology advice. Associate Michael Comstock is providing environmental advice. All members of the Davis Polk team are based in the New York office.