SVB Financial Group (NasdaqGS:SIVB) entered into a merger agreement to acquire Leerink Holdings LLC from Jeff Leerink and others for $280 million on November 13, 2018. Under the terms, the consideration for the unit holders includes $280 million in cash up front and, in addition, will provide a retention pool for employees of $60 million to be paid over five years. Leerink Holdings LLC will operate as a wholly owned subsidiary of SVB Financial Group. Leerink Holdings LLC will be rebranded as SVB Leerink. The leadership team at Leerink will remain in place and will run the business in much the same capacity as it operates today. Jeff Leerink, Chairman and Chief Executive Officer of Leerink Partners, will serve as the Chief Executive Officer of SVB Leerink. James Boylan, President and Head of Investment Banking at Leerink Partners, will serve in the same role at SVB Leerink. Joe Gentile will remain in the same role at Leerink Partners as Chief Administrative Officer. The transaction is subject to customary regulatory approvals, FINRA and HSR approvals. As of December 14, 2018, Federal Trade Commission granted early termination notice. The transaction has been approved by Leerink's shareholders and the transaction is expected to close during the first quarter of 2019. The transaction will result is strong financial returns with IRR greater than 20%, accretive to earnings per share, and additive to ROE. Jeff Wishner and Tom Michaud of Keefe, Bruyette & Woods acted as financial advisor to SVB Financial Group. Brian Sterling of Sandler O'Neill + Partners, L.P. acted as financial advisor and Howard Ellin, Sven Mickisch and Dohyun Kim of Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Leerink. H. Rodgin Cohen, Jared M. Fishman, Regina Sorin, Amy R. Dreisiger, Danyang Zhao, Rebecca S. Coccaro, Sarah Remmer Long, Hannah R. Waldman, Ronald E. Creamer Jr., Jonathan M. Rhein, Whitney A. Chatterjee, Ken Li, Frederick Wertheim, Tracey E. Russell, Mark Schenkel, Joseph J. Matelis and Eric H. Queen of Sullivan & Cromwell LLP acted as legal advisor to SVB Financial Group. SVB Financial Group (NasdaqGS:SIVB) completed the acquisition of Leerink Holdings LLC from Jeff Leerink and others on January 4, 2019. Leerink will operate under the name SVB Leerink as a wholly owned subsidiary of SVB Financial post acquisition.