Avanir Pharmaceuticals Acquired For $3.5 Billion

Aliso Viejo-based Avanir Pharmaceuticals said today that it has entered into a definitive agreement to be acquired by Japanese company Otsuka Pharmaceutical Co., Ltd., in a deal worth approximately $3.5 billion. Avanir--which is publicly held--said that Otsuka has agreed to pay $17.00 per share in cash for the company. The deal is subject to the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Avanir Pharmaceuticals said it was advised by Centerview Partners LLC and Latham & Watkins, LLP in the deal.