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Lg Chem Completes Acquisition Of Aveo Oncology

Jan 19, 2023•almost 3 years ago

Acquiring Company

LG Chem Water Filter Business

Acquired Company

AVEO Pharmaceuticals

BiotechnologyManufacturing

Description

LG Chem, Ltd. (“LG Chem”) (KOSPI: 051910) today announced that it has completed its previously announced acquisition of AVEO Oncology (“AVEO”), a commercial stage, oncology-focused biopharmaceutical company committed to delivering medicines that provide a better life for patients with cancer, in an all-cash transaction with an implied equity value of $571M on a fully diluted basis.

Company Information

Company

LG Chem Water Filter Business

About

LG Chem's water filter business produces reverse osmosis membranes used in various applications including desalination and industrial water treatment. It achieved significant financial growth with strong revenues and profits. The business was established with the acquisition of US-based NanoH2O in 2014.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed