Johnson & Johnson’s Acquisition of Cougar Biotechnology

On May 21, 2009, Johnson & Johnson announced its entry into a definitive agreement whereby it will acquire Cougar Biotechnology, Inc., a development-stage biopharmaceutical company with a specific focus on oncology, for approximately $1 billion in a cash tender offer. Under the terms of the agreement, Johnson & Johnson will commence a tender offer to purchase all outstanding shares of Cougar for $43.00 per share.

The lawyers involved included associate Elissa J. Tobin on corporate matters; partner Eric W. Hilfers and associate Jarrett R. Hoffman on executive compensation and benefits matters; and partner Andrew W. Needham and associate Christian Brause on tax matters.