finance

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)

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