Slaughter and May is advising GlaxoSmithKline plc on the financing of its acquisition of TESARO, Inc.

Slaughter and May is advising GlaxoSmithKline plc (GSK) on the financing of its acquisition of TESARO, Inc. (TESARO), an oncology-focused pharmaceutical company based in the US, for a total consideration of approximately $5.1 billion.  Slaughter and May is supporting GSK’s treasury team, led by Sarah-Jane Hall, Tim Woodthorpe and Ben Checkland, and is advising GSK in collaboration with Shearman & Sterling LLP (GSK’s US counsel for the acquisition).

The acquisition was announced on 3 December 2018, and is expected to complete in the first quarter of 2019, subject to satisfaction of customary closing conditions, including the tender by TESARO stockholders of more than 50% of the shares in TESARO and required regulatory approvals, including clearance by the US Federal Trade Commission.