On March 13, 2002, SkyePharma PLC announced that it will acquire 59.8 per cent of the outstanding voting shares of RTP Pharma Inc. in return for the issue of SkyePharma ordinary shares with a value of approximately US$20.3 million. RTP is a privately held, Quebec-based company that uses proprietary technology to improve drug solubility. In August 2001 SkyePharma paid US$20 million in ordinary shares to acquire US$5 million of preferred shares in RTP for cash for its 40.2 per cent interest in RTP. The total number of SkyePharma ordinary shares to be issued will be 50 million, including those acquired in August 2001, having a total consideration of US$56.5 million.
SkyePharma was represented by Borden Ladner Gervais LLP, with a team comprised of Francis Callaghan and Richard LeBlanc (corporate/commercial) and Stephen Heller and Jonathan Willson (tax). The Quebec Institutional Sharesholders were represented by a team from Lapointe Rosenstein, that included Claude Bergeron and Perry Kliot (corporate/commercial). McCarthy Tétrault LLP acted for RTP, with a team comprised of Peter Martin, Lonnie Brodkin-Schneider and Lisa Miller (corporate/commercial) and Elaine Marchand and Luc Grenon (tax).
SkyePharma was represented by Borden Ladner Gervais LLP, with a team comprised of Francis Callaghan and Richard LeBlanc (corporate/commercial) and Stephen Heller and Jonathan Willson (tax). The Quebec Institutional Sharesholders were represented by a team from Lapointe Rosenstein, that included Claude Bergeron and Perry Kliot (corporate/commercial). McCarthy Tétrault LLP acted for RTP, with a team comprised of Peter Martin, Lonnie Brodkin-Schneider and Lisa Miller (corporate/commercial) and Elaine Marchand and Luc Grenon (tax).
