Baker McKenzie is representing Servier, an independent international pharmaceutical group governed by a foundation, on its definitive agreement to acquire Day One Biopharmaceuticals, Inc. (Nasdaq: DAWN), a commercial stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for patients of all ages with life threatening diseases, for approximately USD 2.5 billion.

Under the terms of the merger agreement, Servier will commence a cash tender offer to acquire all of the issued and outstanding shares of Day One’s common stock for $21.50 per share in cash. Upon the successful completion of the tender offer, Servier will acquire any shares not acquired in the tender through a second-step merger for the same consideration per share paid in the tender offer. Subject to customary closing conditions, the deal is expected to close in the second quarter of 2026.

The acquisition strengthens Servier’s oncology portfolio and expands its pipeline with programs targeting adult and pediatric cancers with high unmet medical needs, reinforcing Servier’s ambition to become a leading innovator in oncology.

Led by M&A partners Michael DeFranco, Michelle Carr and Piotr Korzynski, the Baker McKenzie team included:

Transactional: Shenna Johnson, Jasmine Hlas, Kamari Koonce, Michael Pilo, Theodora Volsky and Stephane Davin
Tax: Lane Morgan, Ross Staine and Matthew Schonholz
Employment & Compensation: Kimberly Franko and M’Alyssa Mecenas
Antitrust & Competition: John Fedele and Evan Harris
National Security & Trade: Rod Hunter

In addition, lawyers from around the Firm formed Baker McKenzie's wider transactional team.

Learn more about the transaction: Servier and Day One Biopharmaceuticals announce acquisition

With more than 2,700 deal practitioners across 40+ jurisdictions, Baker McKenzie has the broadest footprint of any law firm and is recognized for seamlessly executing complex, cross border transactions. With one of the largest Healthcare & Life Sciences groups of any international law firm, Baker McKenzie’s knowledge in the sector has been honed over more than six decades and rooted in the Firm's corporate DNA. The Firm has deep industry acumen in more than 40 jurisdictions and key areas of law, including transactions, regulatory investigations and disputes.