The Carlyle Group Inc. (NasdaqGS:CG) agreed to acquire Abingworth LLP for approximately $190 million on April 11, 2022. Consideration for Abingworth includes a base purchase price of $187.5 million, of which up to $47.5 million may be settled with newly-issued shares of Carlyle's common stock, as well as up to $130 million in future incentive payments on the achievement of certain performance targets. The purchase price consisted of $ 160.6 million in cash and approximately 0.6 million newly issued, fully vested common shares ($ 25.0 million based on the value of the shares at closing). The transaction also included an earn-out of up to $ 130.0 As of July 28, 2022, under the terms of the agreement, a portion of the purchase price can be settled in newly-issued shares of the Company's common stock, and the Company intends to settle $25.0 million of the base purchase price with common stock. Acquisition of Abingworth is subject to customary closing conditions and is expected to close in 2022. As of July 28, 2022, the transaction is expected to close in the third quarter of 2022. Geoffrey P. Burgess, Jennifer L. Chu, Kevin Rinker, David P. Iozzi, Andrew C. Rearick, Lawrence K. Cagney, Peter F.G. Schuur, Jennifer Wheater, Marc Ponchione, Caroline P. Geiger and John Young of Debevoise & Plimpton LLP acted as legal advisor to The Carlyle Group Inc. in the transaction. Victoria Bramall, Sam Kay and Ian Shawyer, Siân Keall, Heidi Jempeji, Oliver Morris, Ashley Braham and Tom hunt of Travers Smith LLP acted legal advisor to Abingworth LLP. Tom LaFonde, Chris Isaacs, Ajay Pathak and Ravi Chopra of Goodwin Proctor acted as legal advisor to Abingworth LLP.

The Carlyle Group Inc. completed the acquisition of Abingworth LLP on August 1, 2022.