On 22 February 2010, Alliance Pharma plc announced its completion of the acquisition of the trade and certain assets of Cambridge Laboratories (Ireland) Limited and Cambridge Laboratories Limited for a total consideration of between £14.3 million and £16.4 million plus the value of inventory held by the Vendors at completion.
The Company successfully raised £7.5 million by way of a vendor share placing to part finance the initial cash element of the consideration for the Acquisition. 28,846,154 new ordinary shares of 1 pence each in the capital of Alliance were placed with certain existing and new UK investors by Numis Securities Limited at a placing price of 26 pence per share.
Alliance Pharma plc was advised in this transaction by Fasken Martineau with a team that included Nigel Gordon, Paul Ranson, Claire Mitchell, Paul Yerbury, Cerys Williams, Fiona Wheatley, Antonina Cuffaro, Rakesh Jhally, Jonathan Witt and Raymond Xu.