Firm News

Julie Cohen
Director of Marketing and Communications

Cahill Represents ICON plc in Agreement to Acquire PRA Health Sciences, Inc.

Date: 02/24/21

Cahill advised ICON plc in its signing of a definitive agreement to acquire PRA Health Sciences, Inc., one of the world’s leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. The acquisition is valued at approximately $12 billion, with the per share merger consideration consisting of $80 in cash and 0.4125 shares of ICON stock. Upon completion of the transaction, PRA shareholders will own approximately 34 percent of the shares of the combined company and ICON shareholders will own approximately 66 percent. The transaction has been unanimously approved by both Boards of Directors and is anticipated to close during quarter three of 2021, subject to regulatory and shareholder approvals and customary closing conditions.

Cahill’s representation of ICON was listed in Law360’s report on the largest M&A deals from Q1 2021.

ICON plc was advised by corporate partners Kimberly Petillo-Décossard, Ross Sturman, and Adam Dworkin, corporate associates Joe Rosati, Joe Cho, Taylor Jansen, Jonathan Stempel, Catherine Schaefer, Beth Yahl, Loren Goodman, and Sam Esclavon, tax partner Craig Horowitz, tax associate Samir Kurani, executive compensation partner Glenn Waldrip, executive compensation counsel Mark Gelman, antitrust partner Elai Katz, antitrust counsel Lauren Rackow, and corporate governance partner Brock Bosson.