Actient, Auxilium deal

Auxilium acquired urology company Actient for $585 million in cash up front, plus warrants and up to $50 million in revenue-dependent milestones. Actient shareholders also will receive warrants for 1.3 million shares of Auxilium stock exercisable at $17.80 per share. Auxilium - which had $467.8 million in cash at March 31 - is funding the acquisition in part with a $225 million secured loan from advisor Morgan Stanley. Centerview Partners also advised Auxilium. Jefferies advised Actient. Willkie Farr & Gallagher and Morgan, Lewis & Bockius were legal advisors to Actient, while Kirkland & Ellis and Hogan Lovells were legal advisors for Auxilium. ...