White & Case Advises the Special Committee of the Board of Directors of Cellular Biomedicine Group on Definitive Agreement to be Acquired by Consortium of Investors
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Global law firm White & Case LLP has advised the special committee of the board of directors of Cellular Biomedicine Group, Inc. (CBMG), a biopharmaceutical firm engaged in the drug development of immunotherapies for cancer and stem cell therapies for degenerative diseases, in connection with CBMG’s definitive merger agreement to be acquired by a consortium of international investors.
Subject to the terms of the merger agreement, CBMG's stockholders will receive US$19.75 in cash for each outstanding share of common stock held immediately prior to the effective time of the merger. If completed, the merger will result in the Company becoming a privately held company, and CBMG's common stock would no longer be listed on the NASDAQ Capital Market.
The White & Case team was led by partners Morton A. Pierce and Chang-Do Gong in New York and included partner Robert Chung and associates Jennifer Djavaherian, Suni Sreepada, Marina Safonova and Jarrah Albuainain all in New York; associate Christopher Hebert (M&A) in Houston; partners Sang Ji (Tax) and Victoria Rosamond, associate DeVoia Stewart (ECB) and partner Steve Lutt and associate Julianne Prisco (Real Estate) all in New York; partner William Fong and associate Vincent W. Lee (M&A) in Hong Kong; partner George Paul, counsel Tamer Nagy (Competition), partner Farhad Jalinous and counsel Keith Schomig (CFIUS) all in Washington, DC; and partner Howard Wettan (IP) in Silicon Valley.
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