Jackson Walker Represents TFS Corporation in up to $244.9 Million Acquisition of Bioscience Companies
The acquisition transactions were announced on June 18, 2015, and are expected to close in July.
Acquisition of the two companies, which have served as pharmaceutical partners with TFS, will advance the Australian company’s vertically integrated strategy by enabling TFS to directly control and benefit from the distribution of a number of Indian sandalwood oil products to the high-value pharmaceutical sector. The minimum purchase price for ViroXis and Santalis combined is $23.4 million, with the maximum purchase price rising to $244.9 million if all milestones, base earn-out thresholds and incentive and final earn-out thresholds are met through to the eight-year anniversary of completion.
ViroXis is a bio-pharmaceutical company focused on developing and commercializing innovative, proprietary, botanical pharmaceuticals derived from sandalwood oil exclusively for viral conditions. Santalis is focused on developing and commercializing sandalwood oil products targeting all possible conditions outside of viral skin diseases (dermatological conditions such as acne, eczema, psoriasis, redness and sensitive skin). Both firms will maintain their headquarters in San Antonio.
TFS was represented by a Jackson Walker team led by Patrick Tobin and including Mike Meskill, Alexine Friedman, Ron Kerridge, Rick Garza, Cline White, and other attorneys and staff members who assisted in facilitating the successful transaction. Jackson Walker’s Corporate & Securities practice group has extensive experience representing clients involved in all types of mergers, acquisitions, dispositions, joint ventures and other strategic alliances, with experience in cross-border transactions.