Sanpower Group Co., Ltd. entered into a definitive agreement to acquire Dendreon Pharmaceuticals, Inc. from Valeant Pharmaceuticals International, Inc. (NYSE:VRX) for approximately for $820 million on January 9, 2017. Under the terms of the transaction, Valeant will receive cash consideration of $819.9 million at completion, subject to certain working capital provisions expected to be finalized in 2017. The transaction is subject to customary closing conditions, including receipt of applicable regulatory approvals and antitrust approval. As on February 3, 2017, the transaction received early termination of antitrust waiting period from Federal Trade Commission. The transaction is expected to close in mid-2017. Valeant will use proceeds from the sale of Dendreon to permanently repay term loan debt under its senior secured credit facility. Centerview Partners served as financial advisor and Adam Golden of Hogan Lovells US LLP acted as legal advisor for Valeant. DLA Piper LLP (US) and DLA Piper UK LLP acted as legal advisors to Sanpower Group. Renée Soto, Chris Kittredge and Jared Levy of Sard Verbinnen & Co. acted as public relation advisor for Valeant Pharmaceuticals.