Kirkland Advises Crown Laboratories on Amended Merger Agreement with Revance
Kirkland & Ellis advised Crown Laboratories, Inc., a privately held, global innovative leader in the skincare industry, on an amended and restated merger agreement to purchase Revance Therapeutics, Inc. (NASDAQ: RVNC), a biotechnology company aimed at setting the new standard in healthcare with innovative aesthetic and therapeutic offerings. Under the terms of the amended and restated merger agreement, which has been unanimously approved by Revance’s Board of Directors, Crown will commence a tender offer to acquire all outstanding shares of Revance’s common stock for $3.10 per share in cash. The acquisition was originally announced on August 12, 2024. The parties entered into the amended and restated merger agreement in response to, among other things, (1) Revance receiving notice from Teoxane alleging breach by Revance of its exclusive distribution agreement with Teoxane, (2) Revance and Teoxane’s settlement of such alleged breach, (3) Revance’s recent commercial performance relative to prior 2024 financial guidance (which was subsequently withdrawn) and (4) Revance’s prospects as a standalone company. The transaction is expected to close in the first quarter of 2025.
Read the transaction press release
The Kirkland team included corporate lawyers Marshall Shaffer, Ed Lee, Josh Kogan, Andrew Norwich, Monica Ruiz and Matthew Burner; investment funds lawyers Jordan Murray, Juliet Anderson, Justin Samson and Chris Stoj; debt finance lawyers Jason Kanner, Chad Davis, Angela Hagerman, Kaitlin Schock and Daly Brower; executive compensation lawyers Scott Price, Anthony Ji and Grace Zagorskis; capital markets lawyers Julia Danforth, Pippa Bond, Van Whiting, Sarah Yang and Elise Wang; and antitrust & competition lawyers Albert Yung Kim and Mariana del Carmen Fernandez.
