Deals
Clayton, Dubilier & Rice Agrees to Buy UDG for $3.7 Billion
- UDG shares trade above the offer price before paring gains
- Biggest purchase of London-listed health company since 2018
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Buyout firm Clayton, Dubilier & Rice agreed to acquire UDG Healthcare Plc for 2.61 billion pounds ($3.7 billion) in cash, the latest in a flurry of pharmaceutical deals amid the pandemic.
UDG investors will receive 1,023 pence a share, about 22% more than the closing price on May 11, the Dublin-based company said in a statement Wednesday. The shares briefly jumped above the offer price, and traded at 1,022 pence by 9:27 a.m. in London.