Kirkland Advises KalVista on $1.9 Billion Acquisition by Chiesi
Kirkland & Ellis advised KalVista Pharmaceuticals, Inc. (Nasdaq: KALV) on a definitive agreement to be acquired by Chiesi Group, an international research-focused biopharmaceutical group and certified B Corp. Under the terms of the Transaction, Chiesi will commence a tender offer to acquire all outstanding shares of KalVista for $27.00 per share in cash. The total value implied by the transaction at closing is approximately $1.9 billion. The transaction was unanimously approved by both Chiesi’s and KalVista’s boards of directors and is expected to close in Q3 2026, subject to the satisfaction of customary closing conditions.
Read the transaction press release
The Kirkland team included corporate lawyers Graham Robinson, Chadé Severin, Brianne Langa, Imran Malek, Lara Pillay, Cameron Smith and Joy Rosenberg; debt finance lawyer Andy Veit; capital markets lawyers Jennifer Lee and James Abate; tax lawyers Dean Shulman, Liam Murphy and Tex Adkins; executive compensation lawyers Tim Nelson, Kelsie Harris, Lany Villalobos and Andrea Rosato; employee benefits lawyers Justin Coddington and Stew Dunoskovic; employment & labor lawyers Risa Salins and Jon Link; technology & IP transactions lawyers Shellie Freedman, Amber Harezlak, Jackie Orfield and Sarah Alpert; international trade & national security lawyers John Kabealo, Brandon Ricaurte and Oni Enkhbat; healthcare lawyers Dennis Williams, Kiyong Song and Cooper Barghols; and antitrust & competition lawyers Maria Raptis, Liz Kraus and Brittany Baker.
