S&C’s role advising Merck KGaA on its $3.9 billion acquisition of SpringWorks was highlighted in the Financial Times Innovative Lawyers Europe Report. Frankfurt partner Florian Späth discussed how the Firm addressed challenges in this complex deal, including press leaks that required the cross-border team in the United States and Germany to navigate capital markets disclosure laws in both countries. The Firm also structured the transaction to accommodate the lack of EU approval for SpringWorks’ tumor-treating drug nirogacestat (which has since been approved). “The pharma side of due diligence is mission critical for these kinds of exercises,” Florian said.
S&C’s work on the Merck/SpringWorks deal was also commended as a case study in the “Unlocking Capital” category, and the Firm’s role advising sports analytics company Sportradar on obtaining clearance from the U.K.’s Competition and Markets Authority for its purchase of IMG Arena was commended in the “Dealmaking” category.
The Merck/SpringWorks team also included Matt Hurd, Eric Krautheimer and York Schnorbus. The Sportradar matter was led by Juan Rodriguez.