BioMarin Pharmaceutical Inc. (NasdaqGS:BMRN) submitted a non-binding indication of interest to acquire Amicus Therapeutics, Inc. (NasdaqGM:FOLD) from The Vanguard Group, Inc., Wellington Management Group LLP, BlackRock, Inc. (NYSE:BLK), William Blair Investment Management, LLC, and others for $4.7 billion on October 6, 2025. BioMarin Pharmaceutical Inc. entered into an agreement to acquire Amicus Therapeutics, Inc. from The Vanguard Group, Inc., Wellington Management Group LLP, BlackRock, Inc. (NYSE:BLK), William Blair Investment Management, LLC, and others for $4.7 billion on December 19, 2025. A cash consideration of $4.7 billion valued at $14.5 per share will be paid by BioMarin Pharmaceutical Inc. The transaction will be financed through the offering of the Notes( $850 million of senior unsecured notes due 2034), together with borrowings under the Term Facilities($2 billion senior secured term loan ?B? facility, $800 million senior secured term loan ?A? facility, $600 million senior secured revolving credit facility) and cash on hand. In case of termination of transaction, Amicus Therapeutics, Inc. will pay a termination fee of $175 million.

The transaction is subject to receipt of confidential due diligence materials, approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders and subject to antitrust regulations. The deal has been unanimously approved by the board. The transaction is expected to close in the second quarter of 2026. The deal is expected to be accretive to non-GAAP diluted EPS in the first 12 months after close and substantially accretive beginning in 2027.

Morgan Stanley & Co. LLC acted as financial advisor for BioMarin Pharmaceutical Inc. J.P. Morgan Securities LLC acted as financial advisor for BioMarin Pharmaceutical Inc. Jonn Beeson and Andy Levine of Jones Day acted as legal advisor for BioMarin Pharmaceutical Inc. Michael Tollini, Addison Pierce, Chadwick Mills, Julia Boesch and Siana Lowrey of Cooley LLP acted as legal advisor for BioMarin Pharmaceutical Inc. Centerview Partners LLC acted as financial advisor and fairness opinion provider for Amicus Therapeutics, Inc. with a fee of $52.7 million. Goldman Sachs & Co. LLC acted as financial advisor and fairness opinion provider for Amicus Therapeutics, Inc. with a fee of $52.7 million. Graham Robinson, Chadé Severin, John W. Sheridan, Maria Raptis, Daniel Rosenthal, Samantha R. Morelli, Timothy F. Nelson, Kelsie Harris, Justin Coddington, William S. Richmond, Dennis Williams, Dean S. Shulman, Liam N. Murphy, Shellie Weisfield Freedman, Seth Traxler, Mari Stonebraker, Amber Harezlak, Rachael L. Lichman, Daniel J. Kirksey, Sophia Hudson, Jennifer L. Lee, Lucille Hague, William T. Pruitt, David M. Cummings, Stefan Atkinson and Alyssa C. Scruggs of Kirkland & Ellis LLP acted as legal advisor for Amicus Therapeutics, Inc. Morgan Stanley Senior Funding, Inc. is acting as sole lead arranger and has provided a bridge commitment for this amount. Innisfree M&A Incorporated acted as information agent for Amicus Therapeutics, Inc. with a fee of $0.09 million. Equiniti Trust Company, LLC acted as transfer agent for Amicus Therapeutics, Inc.