Pamplona Capital to take major CRO private in $5 billion deal
Pamplona Capital Management is to buy the USA-headquartered contract research organization (CRO) Parexel (Nasdaq: PRXL) in a deal worth around $5 billion.
The investment manager will acquire all of the outstanding shares of Parexel for $88.10 per share in cash, including the company’s net debt.
The purchase price represents a 28% premium to Parexel’s unaffected closing stock price on May 5, the last trading day prior to published market speculation regarding a potential takeover.
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