Item 1.01. Entry into a Material Definitive Agreement
On July 29, 2010, Charles River Laboratories International, Inc. (“Charles River”), and WuXi PharmaTech (Cayman) Inc. (“WuXi”) terminated the pending acquisition of WuXi by Charles River by means of a Termination Agreement (the “Termination Agreement”).
The Termination Agreement (i) terminated the Agreement and Plan of Arrangement, dated as of April 26, 2010, between Charles River and WuXi (the “Acquisition Agreement”), (ii) provides that Charles River will pay WuXi a break-up fee of $30 million, and (iii) provides that both parties will release each other from all obligations with respect to the proposed acquisition as well as from any claims arising out of or relating to the Acquisition Agreement.
The foregoing description of the Termination Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the Termination Agreement, a copy of which is filed as Exhibit 2.1 hereto and is incorporated herein by reference.
Item 1.02. Termination of a Material Definitive Agreement.
The disclosure set forth in Item 1.01 above with respect to the Termination Agreement and the Acquisition Agreement is incorporated by reference herein.
Item 8.01. Other Events
On July 29, 2010, Charles River issued a press release announcing the termination of the proposed acquisition of WuXi. The press release is attached as Exhibit 99.1 and is incorporated into this report by reference.
Item 9.01. Financial Statements and Exhibits
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| 2.1 | | Termination Agreement dated as of July 29, 2010 between Charles River Laboratories International, Inc. and WuXi PharmaTech (Cayman) Inc. | |
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| 99.1 | | Press Release issued by Charles River Laboratories International, Inc., dated July 29, 2010 | |