Latham Represents LG Chem in Acquisition of AVEO Oncology

LG Chem, Ltd. (KOSPI: 051910) announced that they have entered into a definitive agreement to acquire AVEO Oncology (Nasdaq: AVEO) for US$15 per share in an all-cash transaction with an implied equity value of US$566 million on a fully diluted basis. AVEO is a commercial stage, oncology-focused biopharmaceutical company committed to delivering medicines that provide a better life for patients with cancer. The transaction is expected to close in early 2023, subject to customary closing conditions and regulatory approvals.

Latham & Watkins LLP represents LG Chem in the transaction with a corporate deal team led by Orange County partner Daniel Rees, Orange County/New York partner Charles Ruck, and Hong Kong/Seoul partner Won Suk “Steve” Kang, with Austin associate Rachel Ratcliffe, Orange County associates Paul Jeffrey, Mekbeb Hagos, Peter Bassine, Kennedy Holmes, Erik Jensen, and Amy Lutfi, and Seoul associate Regina Kim. Advice was also provided on tax matters by Washington, D.C. partner Andrea Ramezan-Jackson, with Washington, D.C. associate Pierce Pandolph; on intellectual property matters by San Diego partner Steve Chinowsky, with San Diego associates Robert Yeh and Kristina Funahashi; on benefits and compensation matters by Los Angeles/Orange County partner Michelle Carpenter, with Los Angeles associate Joe Benedetto; on antitrust matters by Washington, D.C. partner Jason Cruise, Washington, D.C. counsel Patrick English, and Brussels counsel Tomas Nilsson and Philipp Studt, with New York associate Denver Dunn; on CFIUS matters by Washington, D.C. counsel Ruchi Gill, with Washington, D.C. associate Asia Cadet; on FDA regulatory matters by Washington, D.C. counsel Monica Groat, with Washington, D.C. associate Kathryn Culver; on healthcare regulatory matters by Bay Area counsel Betty Pang, and on data privacy matters by Bay Area partner Heather Deixler, with Los Angeles associate Leia Gu.