Milbank LLP advised Veritas Capital, a longstanding technology investor with over $40 billion of assets under management, in connection with the acquisition of Syneos Health, Inc. by a consortium of private equity firms composed of Veritas Capital, Elliott Investment Management and Patient Square Capital. The consortium has agreed to acquire all of the outstanding shares of Syneos Health for $43.00 per share in an all-cash transaction valued at approximately $7.1 billion, including outstanding debt. The transaction is expected to close in the second half of 2023, subject to shareholder approval and the satisfaction of other customary closing conditions, including regulatory approvals. Upon completion of the transaction, Syneos Health will become a private company.
Syneos Health is a leading fully integrated biopharmaceutical solutions organization built to accelerate customer success. Working across more than 110 countries, Syneos Health shares insights, uses the latest technologies and applies advanced business practices to speed up customers’ delivery of important therapies to patients around the globe.
The Milbank team was led by Global Corporate/M&A partners Richard Presutti and Lowell Dyer. The team also included Global Corporate/M&A special counsel Benjamin Fidler, Global Capital Markets partner Antonio Diaz-Albertini, Executive Compensation partners Mike Shah and James Beebe, Tax partner Max Goodman, and Antitrust partner Fiona Schaeffer.
