Gleiss Lutz advises SYNLAB AG’s management board on Cinven’s billion euro purchase offer and on conclusion of investment agreement

A Gleiss Lutz team has advised the management board of listed SYNLAB AG in connection with the public purchase offer by Cinven and the conclusion of an investment agreement between SYNLAB AG and Cinven.

In connection with the investment agreement, Cinven has announced that it intends to submit a voluntary public purchase offer of EUR 10.00 in cash per SYNLAB share. This puts Synlab AG at a market capitalization of approx. EUR 2.2 billion. Cinven has concluded agreements with shareholders of SYNLAB AG ahead of the deal, securing a total of almost 80% of the voting rights in the target.   

SYNLAB AG has its registered office in Munich. Its shares are traded on the regulated market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main and listed in the SDAX index. The SYNLAB Group has around 30,000 employees across more than 30 countries and generates annual revenue of more than EUR 3 billion.

Cinven is a global private equity firm with more than EUR 39 billion in combined assets under management. Its portfolio companies have collectively generated a total revenue of more than EUR 44 billion.

The transaction was handled in-house by Dr. Fabian Walla (Group General Counsel) and Björn Weise (Deputy General Counsel & Head of Corporate Law).

The following Gleiss Lutz team advised the management board of SYNLAB AG on takeover law issues and other aspects of the transaction: Dr. Christian Cascante (partner, Frankfurt), Steffen Carl (partner, Munich, both lead), Dr. Markus Martin (counsel), Dr. Julius-Vincent Ritz, Dr. Bosede Staudenmayer, Dr. Valentin Zemmrich (all Corporate/M&A, all Stuttgart), Dr. Ingo Brinker (partner, Competition/Antitrust, Munich), Dr. Rut Steinhauser (partner), Josefine Chakrabarti (counsel, both Employment, both Berlin), Florian Schorn (Corporate, Munich).

Gleiss Lutz has extensive expertise in public takeovers and is regularly involved in top-flight transactions (both friendly and hostile) – advising bidders, boards of targets, or investment banks. A Gleiss Lutz team most recently advised the supervisory board of Software AG in connection with Silver Lake's public takeover offer.​​