Britain's Clinigen agrees to $1.6 billion take-private deal


© Reuters.

(Reuters) – Britain’s Clinigen Group has agreed to be bought by UK-based private-equity firm Triton Investment Management in a deal that values the pharmaceutical services firm at about 1.2 billion pounds ($1.6 billion), the companies said on Wednesday.

Last week, Clinigen had confirmed advanced talks with Triton over a possible deal as pressure built up on the company on reports of activist investor Elliott Management raising its stake to propose a break up of Clinigen.

Triton has offered 883 pence per share in cash, with shareholders also eligible to receive a previously declared final dividend of 5.46 pence per Clinigen Share, the companies said.

London-listed Clinigen helps drug developers manage clinical supplies and provides real-world data about medicines, and would be the latest addition to Triton’s burgeoning healthcare portfolio.

($1 = 0.7549 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read More   BA-owner IAG not planning to tap investors for funds - Sunday Times



This website uses cookies. By continuing to use this site, you accept our use of cookies.