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Freshfields advises Merz Therapeutics on its $185 million acquisition of Acorda Therapeutics
Freshfields is advising Merz Therapeutics, a leader in the field of neurotoxins, in its agreement with Acorda Therapeutics, Inc (Nasdaq: ACOR), under which Merz will purchase substantially all of the assets of Acorda for $185 million and receive the rights to two commercially available medicines to treat phases of Parkinson's disease and gait disorders in multiple sclerosis.
The sale will be conducted through a court-supervised process under Section 363 of the U.S. Bankruptcy Code under which Merz is serving as the "stalking horse" bidder. Acorda filed a voluntary petition to commence Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York on April 1.
Learn more about this transaction here.
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