Leading CDMO set to be acquired
Private equity firm EQT has agreed to buy Swedish contract development and manufacturing organization (CDMO) Recipharm (STO: RECI-B) for a total of 17.93 billion Swedish kronor ($2.14 billion).
EQT is offering shareholders 220 kronor in cash per share, with news of the deal sending shares in Recipharm nearly 22% higher on Monday morning.
"Recipharm has generated strong growth over the past years through a number of acquisitions, and today holds a strong position in the global CDMO market"Lars Backsell, the chairman of the board of directors of Recipharm, and Thomas Eldered, a member of the board of directors and the chief executive of Recipharm, released a statement saying: "In EQT, we have found a partner who shares our values as entrepreneurs and our vision for Recipharm.
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