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Simpson Thacher is representing JPMorgan in its role as financial advisor to Charles River Laboratories International, Inc., a leading global provider of research models and associated services and of preclinical drug development services (“Charles River”), in connection with Charles River’s acquisition of WuXi PharmaTech (Cayman) Inc., a leading drug research and development outsourcing company with expertise in discovery chemistry and with operations in China and the United States (“WuXi”), in a cash and stock transaction valued at approximately $1.6 billion.  Simpson Thacher is also representing JPMorgan and Bank of America as lead arrangers and lenders in connection with $1.25 billion of senior secured credit facilities to finance the acquisition.  Charles River is listed on the New York Stock Exchange (NYSE) and WuXi has American Depositary Shares (ADSs) listed on the NYSE.   

Under the terms of the agreement, the total consideration to be paid will be $21.25 per WuXi ADS.  Each WuXi ADS will be exchanged for $11.25 in cash and $10.00 of Charles River common stock determined by a pre-closing exchange formula, subject to a collar.  The combined company will retain the name Charles River and will continue to be listed on the NYSE.   

The Simpson Thacher team includes: Caroline Gottschalk, Rob Spatt and Tom Lamprecht (M&A) and Frank Huck, Justin Lungstrum, Tony McMahon and Andy Veit (Credit).