The veterinary laboratory Dechra Pharmaceuticals jumped 8% this Friday morning in London, after confirming a takeover bid from the Swedish fund EQT and the sovereign fund Abu Dhabi Investment Authority (Adia), for a business value of almost 5,000 million pounds.
The companies involved “have reached an agreement” for this operation at 3,875 pence per share that values Dechra’s entire capital at 4,500 million pounds and “implies a company value” of 4,900 million pounds (5,700 million euros). , according to a press release.
Following the acquisition, EQT will own 74% and Adia the remaining 26%. The operation should be completed by the end of the year or the beginning of 2024, specifies the press release published on Friday morning by Dechra Pharmaceuticals.
Present in 26 countries
Dechra shares were up 8% on Friday at 3,644 pence on the London Stock Exchange at 08:00 GMT. It has shot up more than 30% since the announcement, in mid-April by the laboratory, that it had started talks with a view to this takeover bid.
Dechra Pharmaceuticals, which specializes in animal endocrinology, dermatology and pain management, has about 2,500 employees. The group is directly established in 26 countries and distributes its products to veterinarians in 66 countries.
The animal pharmaceuticals industry “is expected to benefit from many long-term growth drivers, including positive demographics, a growing number of pet owners, medical innovation, and an increased focus on animal care within family,” the statement said.
“Since going public in 2000, (…) Dechra has grown from a UK-only based specialist veterinary distribution company to a global veterinary pharmaceuticals and related products company,” argued Elizabeth Alison Platt, Dechra president, quoted in the press. release.
Source: BFM TV
