M&A Deal Summary

LG Chem Acquires Aveo Oncology

On January 19, 2023, LG Chem acquired life science company Aveo Oncology for 571M USD

Acquisition Highlights
  • This is LG Chem’s 1st transaction in the Life Science sector.
  • This is LG Chem’s largest (disclosed) transaction.
  • This is LG Chem’s 2nd transaction in the United States.
  • This is LG Chem’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2023-01-19
Target Aveo Oncology
Sector Life Science
Buyer(s) LG Chem
Deal Type Add-on Acquisition
Deal Value 571M USD
Advisor(s) Moelis & Co. (Financial)
Wilmer Cutler Pickering Hale and Dorr (Legal)

Target

Aveo Oncology

Boston, Massachusetts, United States
Aveo Oncology is a biopharmaceutical company focused on discovering, developing, and commercializing cancer therapeutics. Aveo Oncology's product candidates are targeted against important mechanisms known or believed to be involved in cancer. Aveo Oncology was founded in 2001 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

LG Chem

Seoul, South Korea
Category Company
Founded 1947
Sector Chemicals
Employees14,011
Revenue 19.95T KRW (2023)
DESCRIPTION

LG Chem engaged in manufacture of petrochemicals like polyvinyl chloride (PVC) resins, low-density polyethylene (LDPE), poly styrene (PS), acrylonitrile butadiene styrene (ABS), bisphenol. LG Chem was founded in 1947 and is based in Seoul, South Korea.

DEAL STATS #
Overall 2 of 2
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-10 LG Chem - LCD Polarizer Business

China

LG Chem, Ltd. - LCD Polarizer Business transmits the light emitted from the LCD's backlight in a single direction while blocking the light coming from other directions.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-03 Invitros

Seoul, South Korea

Invitros is a healthcare company specializing in in-vitro diagnostics, particularly for allergy, tuberculosis and respiratory virus infection tests.

Sell -
Mergr

Product

Company

Legal