Company Logo



Home industry healthcare uK pharmaceutical firm Clinigen agrees to $1.6 billion takeover

UK pharmaceutical firm Clinigen agrees to $1.6 billion takeover


Healthcare

UK pharmaceutical firm Clinigen agrees to $1.6 billion takeover

Clinigen agreed to be bought by UK-based Triton Investment Management in a deal valued at nearly 1.2 billion British pounds ($1.6 billion), making it the latest UK company to go private.

Clinigen confirmed advanced talks with the private equity a week earlier over a possible acquisition. Pressure has built on the pharmaceutical company since Elliot Management raised its stake in recent weeks amidst reports the activist investor was seeking to break up Clinigen.

Triton offered 883 pence per share in cash, with shareholders also eligible to receive a prior indicated final dividend of 5.46 pence per Clinigen share.

Shares of Clinigen, listed on the London stock exchange, jumped 10% to 900 pence by 8:49 GMT, indicating shareholders could be expecting a better proposal. However, Alistair Campbell, an analyst at Liberum, thought a higher counter bid was unlikely.

Private equity buyouts increased by 133% to $818 billion worldwide in the first nine months of the year as investment firms hurried to deploy cash, often paying high prices to take assets off the public markets.

Clinigen helps medicine developers manage clinical supplies and provides real-world data about drugs. The firm would be the most recent addition to Triton's growing healthcare portfolio.


Business News


Recommended News


Most Featured Companies


Latest Magazines

© 2024 CIO Bulletin Inc. All rights reserved.