Davis Polk is advising Clarivate Analytics plc in connection with its $950 million acquisition of Decision Resources Group from Piramal Enterprises Limited. The $950 million purchase price includes $900 million in cash and approximately $50 million in Clarivate ordinary shares to be issued following the one-year anniversary of closing. In connection with the transaction, Davis Polk is advising Clarivate in connection with a $950 million fully committed bridge facility from Citibank, N.A. and Goldman Sachs Bank USA and their affiliates. The transactions are expected to close within the first quarter of 2020, subject to the satisfaction of customary closing conditions and regulatory approvals, including approval by Piramal Enterprises Limited’s shareholders.
Clarivate Analytics is a global leader in providing trusted insights and analytics to accelerate the pace of innovation. Clarivate has built some of the most trusted brands across the innovation lifecycle, including the Web of Science, Cortellis, Derwent, CompuMark, MarkMonitor and Techstreet. DRG is a premier provider of high-value data, analytics and insights products and services to the healthcare industry. Piramal Enterprises Limited is one of India's largest diversified companies, with a presence in financial services, pharmaceuticals and healthcare insights and analytics.
The Davis Polk corporate team includes partner Daniel Brass and associate W. Soren Kreider IV. The finance team includes partner Sartaj Gill and associate Jack Orford. Partner Joseph A. Hall and associate Dan Gibbons are providing capital markets advice. The tax team includes partner Michael Mollerus. Frank J. Azzopardi is providing intellectual property and technology advice. Partner Jesse Solomon is providing antitrust and competition advice. Partner Kyoko Takahashi Lin is providing executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC offices.