Simpson Thacher is representing Karuna Therapeutics, Inc. (“Karuna”) in connection with its announced acquisition by Bristol-Myers Squibb Company for $330 in cash per share, representing a total equity value of approximately $14 billion. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including approval of Karuna stockholders and receipt of required regulatory approvals.
Karuna is a biopharmaceutical company driven to discover, develop and deliver transformative medicines for people living with psychiatric and neurological conditions.
The Simpson Thacher team includes Eric Swedenburg, Jakob Rendtorff, Alan Klein, Erica Egenes, Haley O’Connor and Dashia Kwok (M&A); Jeannine McSweeney, Scott Schilson and Damian Gallagher (Executive Compensation and Employee Benefits); Lori Lesser and Melanie Jolson (IP); Sara Razi, Preston Miller and Nicholas Ingros (Antitrust); Vanessa Burrows and Nawa Lodin (Healthcare Regulatory); and Drew Purcell and Preston Irace (Tax).