Jazz to acquire Orphan Medical

Jazz Pharmaceuticals (Palo Alto, Calif.) plans to acquire ORPH for $10.75 per share in cash, or $122.6 million. The deal price is a 26% premium to ORPH's Monday close of $8.55. The deal is expected to close next quarter. ORPH will become a subsidiary of Jazz. Banc of America and Dorsey & Whitney represented ORPH, and Simon Thacher & Bartlett represented Jazz. In connection with the deal, Jazz said it obtained a commitment for $75 million of senior debt financing led by Lehman Brothers. ...