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O’Melveny Team Featured in Law360 for Role in BGI-Shenzhen Acquisition

May 01, 2013

The April 30, 2013, Law360 article "Sealing the Deal: O’Melveny Nails Historic Buy for China’s BGI” gives a behind the scenes look at how O’Melveny & Myers LLP advised BGI-Shenzhen on a groundbreaking deal, making the life sciences company the first Chinese company to buy a publicly listed US firm, according to the article. The story quotes partners Wendy Pan and Paul Scrivano, who led the O’Melveny team and helped the Firm’s client negotiate regulatory approvals in the US and China, shareholder lawsuits, and a last-minute competing bidder.

"If a [Chinese] company is properly prepared for the challenges, puts in place a good internal deal team to manage the process and has experienced international advisers, similar cross-border public M&A deals can be consummated," Pan said in the article. O’Melveny was part of that good internal team, helping to combat negative press surrounding the competing offer, the article said. "Once the hostile bid was publicly announced, we pivoted to use the deal protection provisions in the merger agreement, as well as concerns under antitrust laws concerning the hostile bidder’s proposed transaction, to create a strategy to defeat the hostile bid," Scrivano said in Law360. "The deal protection provisions that O'Melveny negotiated gave BGI the chance to compete with the hostile offer and to keep this deal."