Clinigen to be acquired by Triton Funds

The boards of directors of UK-headquartered pharma services and products company Clinigen Group (AIM: CLIN) and of Triley Bidco Limited (Bidco) have agreed the terms of a recommended all-cash acquisition of Clinigen by Bidco, a newly-incorporated company indirectly owned by the Triton Funds, a European private equity investment firm, whereby Bidco will acquire the entire issued and to be issued ordinary share capital of Clinigen.

Under the terms of the acquisition, Clinigen shareholders will be entitled to receive 883 pence per share, valuing the entire issued and to be issued ordinary share capital of Clinigen at around £1.2 billion ($1.59 billion) on a fully diluted basis. Clinigen’s shares were up 10.7% at 905.39 pence following the announcement, leading to media reports surfacing today suggesting the share price jump indicates that a second bidder is waiting in the wings.

In addition to the consideration payable in connection with the acquisition, Clinigen shareholders will be entitled to receive the previously declared final dividend of 5.46 pence per Clinigen share (the permitted dividend), which will be paid on January 4, 2022 to Clinigen shareholders on the company's register at close of business on December 3, 2021,