Kirkland Represents GlaxoSmithKline on Sale of Stake in Innoviva Inc
Kirkland & Ellis advised GlaxoSmithKline plc (LSE/NYSE: GSK) on its agreement with Innoviva, Inc. (NASDAQ: INVA), a royalty management company, to sell all of its approximately 32 million shares of common stock of Innoviva back to Innoviva at a price of $12.25 per share, raising gross proceeds of approximately $392 million. Following settlement of the transaction, GSK will no longer hold any Innoviva stock.
The Kirkland team was led by corporate partners Dvir Oren and Daniel Wolf.
