China Business Law Journal: O’Melveny Acts on Acotec Scientific’s Partial Offering
February 15, 2023
O’Melveny advised Acotec Scientific Holdings Limited on the voluntary partial offer by Boston Scientific Group plc. The total consideration of the Partial Offer is approximately HK$4.07 billion (US$520 million) in all cash. The Partial Offer, which is the first takeover offer made to a biotech company listed under Chapter 18A of the Hong Kong Listing Rules, was closed on February 9, 2023. As of the closing of the Partial Offer, Boston Scientific acquired an aggregate of 203,702,962 shares of Acotec Scientific, representing 65% of the issued share capital of Acotec Scientific, at the offer price of HK$20 per share. The O’Melveny team was led by partners Ke Geng, Ke Zhu, and Alan Bao.
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