Debevoise Advises Deutsche Bank as Financial Advisor to Eli Lilly in Its $8 Billion Acquisition of Loxo Oncology

7 January 2019

Debevoise & Plimpton LLP is advising Deutsche Bank as financial advisor to Eli Lilly and Company (“Lilly”) in its $8 billion acquisition of Loxo Oncology, a biopharmaceutical company focused on the development and commercialization of highly selective medicines for patients with genomically defined cancers.

Under the terms of the agreement, Lilly will commence a tender offer to acquire all outstanding shares of Loxo Oncology for a purchase price of $235.00 per share in cash. Following the successful closing of the tender offer, Lilly will acquire any shares of Loxo Oncology that are not tendered into the tender offer through a second-step merger at the tender offer price. The tender offer represents a premium of approximately 68 percent to Loxo Oncology's closing stock price on January 4, 2019, the last trading day before the announcement of the transaction.

The Debevoise team is led by partner Andrew L. Bab and includes associates Samantha L. Berkovits and Claire Hansen Suni.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.