The transaction is sourced from an 8-K filing with the SEC, filed via SEC EDGAR and published on April 2, 2024. The deal's current status is pending regulatory approval.
On the financial advisory side, Ducera Partners is named as lead investment banker to Acorda (the issuer), with the source material noting that Acorda is being advised by Ducera Partners and Leerink Partners as investment bankers, alongside Ernst & Young as financial advisor and Baker McKenzie as legal counsel. Separately, Perella Weinberg Partners is identified as lead investment banker to the Senior Convertible Noteholders (creditors), who are also advised by King & Spalding as legal counsel.
On the legal side, three firms are named: Baker McKenzie serves as legal counsel to Acorda (issuer), King & Spalding serves as legal counsel to the Senior Convertible Noteholders (creditors), and Freshfields Bruckhaus Deringer US LLP serves as legal counsel to Merz, identified here in the acquirer role, which is also advised by Morgan Stanley as investment banker and Deloitte as financial and tax advisors per the source sentence (though Morgan Stanley and Deloitte are not broken out as separate structured advisor entries in the facts block).
Beyond the Section 363 asset sale and stalking horse agreement structure with a disclosed value of $185,000,000, no further detail on the specific consideration mix or additional terms of the stalking horse bid is provided in the facts block.
Several items are not disclosed in the available record. While the source sentence references Morgan Stanley and Deloitte advising Merz, they are not listed as separate structured financial advisor entries, so their precise role designation (lead or non-lead) cannot be confirmed from the structured facts. No expected closing date for the Section 363 sale or further timeline detail beyond the April 2024 filing date and pending-regulatory status is provided.