Ignyta $1.7B Sale to Roche

Ignyta $1.7B Sale to Roche

  

Fried Frank acted as counsel to Bank of America Merrill Lynch and J.P. Morgan Securities as financial advisors to Ignyta, Inc. (NASDAQ: RXDX) in its definitive agreement to sell to Roche (SIX: RO, ROG; OTCQX: RHHBY) for a total transaction value of US$1.7 billion on a fully diluted basis. The US$27.00 per share all cash offer represents a premium of 74% to Ignyta's closing price on Dec. 21, 2017. Under the terms of the merger agreement, Roche will promptly commence a tender offer to acquire all outstanding shares of Ignyta common stock, and Ignyta will file a recommendation statement containing the unanimous recommendation of the Ignyta board that Ignyta's shareholders tender their shares to Roche. The merger agreement has been unanimously approved by the boards of Ignyta and Roche.
 
The Fried Frank team was led by corporate partner Philip Richter and included litigation partner Scott B. Luftglass, tax partner Alan S. Kaden and corporate associates Roy Tannenbaum and Jake Saifman.

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