Fenwick Represents DICE Therapeutics in Acquisition by Eli Lilly

Fenwick is representing DICE Therapeutics, Inc. (Nasdaq: DICE), a biopharmaceutical company focused on the development of novel oral therapeutic medications to treat chronic diseases in immunology, in its acquisition by Eli Lilly and Company (NYSE: LLY).

Under the terms of the agreement, Eli Lilly will initiate an all-cash tender offer to acquire all outstanding shares of DICE for $48 per share, for an aggregate value of approximately $2.4 billion. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions. More information can be obtained from DICE’s Announcement.

The Fenwick transaction team included corporate partners Matt Rossiter, Doug Cogen, David Michaels, Amanda Rose and Victoria Lupu, counsel Chelsea Anderson and associates Rob O’Connor, Min Ju Park, Frances Fuqua, Riddhi Adhikari, Sedina Alicic-Huang and Kaylee Johnson; technology transactions partner Jake Handy, counsel Cara Ann Rydbeck and associates Pinar Bailey, Julia Chung, Kehl Sink, Ju Yun (Julie) Son, Catherine Kim, Phillip Yin and Mina Matsumoto; executive compensation and employee benefits partner Marshall Mort and associates Jonathan Stephenson and Cynthia Yuan; tax partner Mike Knobler and associate Kris Hatch; privacy and security counsel Ana Razmazma and associate Alyona Eidinger; and antitrust partner Tom Ensign and associates Elizabeth Suarez and Kaylynn Moss.