Davis Polk is advising Charles River Laboratories International, Inc. on its approximately $800 million acquisition of MPI Research Inc. The transaction, which is expected to close early in the second quarter of 2018, is subject to regulatory approvals and customary closing conditions.
Davis Polk is also advising Charles River in connection with a commitment letter with JPMorgan Chase Bank, N.A. for $830 million in debt financing.
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and academic institutions to accelerate their research and drug development efforts. MPI is a non-clinical contract research organization (CRO) that provides comprehensive testing services to biopharmaceutical and medical device companies worldwide.
The Davis Polk corporate team includes partner Michael Davis and associates Andrew D. Krause and Daisy Wu. Partner Michael Mollerus and associate Isaac MacDonald are providing tax advice. The executive compensation team includes partner Kyoko Takahashi Lin and law clerk Julia Bogdanovich. Partner Joseph P. Hadley and counsel Darren Mahone are providing credit advice. Partner Richard D. Truesdell Jr. is providing capital markets advice. All members of the Davis Polk team are based in the New York office.