Cadwalader Partner Recalls Hectic Four Days on Pfizer-Wyeth Deal
A mergers and acquisitions partner at Cadwalader, Wickersham & Taft describes a hectic four days working on pharmaceutical maker Pfizer’s $68 billion buyout of Wyeth.
Dennis Block told the Am Law Daily he worked on and off on the deal for several months until he got a call on Thursday from his client Pfizer asking for quick action. Block said he was at the office for all but a few hours each night in an effort to put together the takeover before Monday morning. Lawyers from several Cadwalader departments—including finance, antitrust, real estate, tax, litigation and intellectual property—also worked on the deal, according to the story.
“From a lawyer’s standpoint, this was one of the most difficult transactions I’ve ever worked on,” Block told the Am Law Daily. He didn’t comment on details of the huge $4.5 billion breakup fee that Pfizer agreed to pay if it backs out of the buyout.
The lead lawyer representing Wyeth was Casey Cogut of Simpson Thacher & Bartlett. Wyeth’s board of directors was represented by Wachtell, Lipton, Rosen & Katz, according to the publication.
