GlaxoSmithKline in $566 Million Acquisition of CNS, Inc.
October 8, 2006
Cleary Gottlieb is representing GlaxoSmithKline, one of the world’s leading research-based pharmaceutical companies, in its acquisition of CNS, Inc., the manufacturer of BreatheRight® nasal strips and FiberChoice® dietary fiber supplements.
GSK is to acquire CNS for $37.50 per share in cash, or a total of approximately $566 million. The deal, which was announced October 8, is expected to close by early 2007, subject to obtaining CNS stockholder approval and HSR clearance.