April 25, 2005
Shire Pharmaceuticals Group plc agrees to acquire Transkaryotic Therapies, Inc. (TKT), a portfolio company of Willkie client Warburg Pincus, for $1.6 billion.
On April 21, it was announced that Shire Pharmaceuticals Group plc has agreed to acquire Transkaryotic Therapies, Inc. (TKT), a portfolio company of Willkie client Warburg Pincus, for $1.6 billion. Shire will pay $37 in cash for each share of TKT common stock. Cambridge, Mass-based TKT is a biopharmaceutical company primarily focused on researching, developing and commercializing treatments for rare diseases caused by protein deficiencies. Upon completion of the transaction the combined company will be a diversified business with small molecule drugs and protein therapeutics. The deal, which was reported in the April 22 edition of The Wall Street Journal, was handled by partner Steven Gartner and associate Robert Langdon.