TGS Baltic advised in the implementation of AB SANITAS share acquisition transaction, one of the major and most successful mandatory takeover bids of recent years

22.09.2011 TGS Baltic advised in the implementation of AB SANITAS share acquisition transaction, one of the major and most successful mandatory takeover bids of recent years

TGS Baltic acted as legal advisors of Valeant Pharmaceuticals International, Inc. in submitting and implementing a mandatory takeover bid to buy up the remaining voting shares in AB SANITAS. In the course of the mandatory takeover bid, the value of the bought-up shares constituting 79.32 per cent of the company’s shares subject to the mandatory takeover bid totalled EUR 19,804,428 (LTL 68,380,729).

In this process TGS Baltic, i.e. partner Vidmantas Drizga, senior associate Deimantė Korsakaitė and associate Mantas Gofmanas, were legal advisors to the offeror in drafting the prospectus of the takeover bid, as well as all other documents related to the project, represented the offeror before the Securities Commission of the Republic of Lithuania, AB NASDAQ OMX Vilnius, and performed any other actions necessary in connection with the takeover bid.
The takeover bid was announced after the implementation of the transaction on the acquisition of 87.2 per cent of AB SANITAS shares by Valeant Pharmaceuticals International, Inc. represented by TGS Baltic.