Kirkland & Ellis advised Crown Laboratories, Inc., a privately held, global innovative leader in the skincare industry, on a definitive merger agreement to purchase Revance Therapeutics, Inc. (NASDAQ: RVNC), a biotechnology company aimed at setting the new standard in healthcare with innovative aesthetic and therapeutic offerings. The acquisition was announced August 12, 2024 and is expected to close by the end of the year. Under the terms of the agreement, which has been unanimously approved by Revance’s Board of Directors, Crown will commence a tender offer to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash for an overall value of $924 million. The purchase price represents a premium of 89% over Revance’s closing market price on August 7, 2024, and a 111% premium to Revance’s 60-day volume-weighted average price.
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