The Corporate Group at Mayer, Brown, Rowe & Maw LLP has advised Cambridge Antibody Technology Group plc on its proposed merger with Oxford Glycosciences Plc, which will create a leading European biotechnology company combining the key strengths of the two organisations.
The proposed merger will be effected by way of a scheme of arrangement under section 425 of the Companies Act. Following completion of the proposed merger, expected in March 2003, CAT shareholders will hold approximately 64.3%, and OGS shareholders will hold approximately 35.7%, of the issued share capital of CAT.
Media reports suggest that this deal is likely to kick-start consolidation in the fragmented European bio-technology industry. Legacy Mayer, Brown & Platt first acted for CAT in connection with an international share offering in 2000 and also advised CAT on its Nasdaq listing in 2001. However, this is the first significant deal where CAT has instructed Mayer, Brown, Rowe & Maw in London. The appointment is a testament to the strategy which led to last year's market leading combination of Mayer, Brown & Platt and Rowe & Maw.
Corporate partners Paul Maher, Mark Uhrynuk and Fiona Holland led the deal along with Phil Niehoff of the Chicago office. They were assisted by corporate assistants Kate Ball-Dodd, Kent Pflederer, Sterling Dorish, Helen Loughlin and Neill Stephen.
Oxford Glycosciences Plc was advised by Nilufer Von Bismark, Slaughter and May.
For further information, please contact:
Paul Maher, Partner, Mayer, Brown, Rowe & Maw LLP: 020 7782 8815
Mark Uhrynuk, Partner, Mayer, Brown, Rowe & Maw LLP: 020 7246 6217
Angela Woodruff, PR Manager, Mayer, Brown, Rowe & Maw LLP: 020 7782 8804
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