DLA Piper scoops $6.7bn biotech merger

DLA Piper has scored a role in one of the biggest pharmaceutical deals of the year, lining up alongside Skadden Arps Slate Meagher & Flom in the $6.7bn (£3.4bn) merger of US biotechnology suppliers Invitrogen and the Applera Corporation.

DLA Piper acted for the buyer, Invitrogen, led by San Diego-based relationship partners Jeff Baglio and Jay Rains.

The pair were supported in London by employment partner Susan Fanning and competition partner Alexandra Kamerling, as well as Jonathan Klein in New York, Bijan Eghbal in Paris and Marnix Holtzer in Amsterdam.

Skadden Delaware-based corporate partners Robert Pincus and Steven Daniels represented the Applera Corporation.

The cash and shares transaction will create a California-based global biotechnology research tools giant with combined annual sales of some $3.5bn (£1.8bn).

DLA Piper head of European M&A Robert Bishop said: “This is one of the most significant deals we have done in the last 12 months.”

The firm has counted Invitrogen among its clients since taking the company public in 1999.

The newly merged company will trade under the name Applied Biosystems Inc, supplying products for genome and cell biology research.