Kirkland & Ellis, Wachtell, Lipton, Rosen & Katz (WLRK) , and Sidley Austin LLP advised on Blackstone and TPG’s $18.3 billion acquisition of Hologic, Inc.

Under the terms of the agreement, Blackstone and TPG will acquire all outstanding Hologic shares for $76 per share in cash plus a non-tradable contingent value right (CVR) to receive up to $3 per share in two payments of $1.50 each, for total consideration of up to $79 per share in cash. The non-tradable CVR would be issued to Hologic stockholders at closing and paid, in whole or in part, following achievement of certain global revenue goals for Hologic’s Breast Health business in fiscal years 2026 and 2027. The transaction includes significant minority investments from a wholly owned subsidiary of the Abu Dhabi Investment Authority and an affiliate of GIC.

The transaction is expected to close in the first half of calendar year 2026, subject to the approval of Hologic’s stockholders, the receipt of required regulatory approvals, and the satisfaction of certain other customary closing conditions. The Hologic Board of Directors has unanimously approved the merger agreement and recommends that Hologic stockholders vote their shares to approve the transaction and adopt the merger agreement.

Kirkland & Ellis advised Blackstone and TPG on a definitive agreement to acquire Hologic, Inc. (Nasdaq: HOLX) in a transaction with an enterprise value of up to $18.3 billion.

The Kirkland team included corporate lawyers Lauren Colasacco, Chris Burwell and Daniel Yip; debt finance lawyers Melissa Hutson, Yuli Wang, Tim Hughes and Scott Rolnik; tax lawyers Mike Beinus and Vivek Ratnam; and executive compensation lawyers Mike Krasnovsky, Matt Wood and Jenny Cha.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Hologic.

Sidley is representing GIC, a global investment firm that manages Singapore’s foreign reserves, in connection with the take-private acquisition of Hologic, Inc. The transaction, which is valued at approximately US$18.3 billion, is among the largest healthcare take-private transactions announced in 2025. GIC is participating in the transaction as a significant minority investor, with funds managed by Blackstone and TPG as lead investors.

The Sidley team is being led by Ayo Badejo (M&A and Private Equity) and includes Asi Kirmayer, Leila Malek, and John K. Neal Jr. (M&A and Private Equity); Chad D. Ehrenkranz and George Maliha M.D. (Healthcare); Ken Daly, Sven De Knop, and Alessandra Moroni (Antitrust and Competition); Rachel D. Kleinberg and Andrew B. Smith (Tax); and James Mendenhall (Global Arbitration, Trade and Advocacy).