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PAREXEL's Acquisition by Pamplona Approved by Shareholders
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PAREXEL International Corporation is again in the news following the receipt of shareholders’ approval for the impending sell-off of the company to certain investment funds associated with Pamplona Capital Management. The transaction is expected to be completed by Sep 29 following which the company will turn into a privately-held organization
Per the terms of this approximately $5-billion worth deal, Pamplona is slated to acquire all of PAREXEL’s outstanding shares for $88.10 a share in cash. According to the company, the offer price by Pamplona was attractively placed at a premium of 27.9% to the stock’s price just before the market speculation of the news which took place on May 5. Hence 98% of shareholders’ votes were casted in favor of the deal. Notably, the company received the acquisition approval after a shareholders meeting held on Sep 15.
PARAXEL also seems to be upbeat about this sell-off. Per management, the deal will help the company solidify its footprint to exploit opportunities in the pharmaceutical and healthcare spaces.
This leading biopharmaceutical services provider delivered encouraging performance in fiscal 2017. Moreover, the company has an attractive track record of growing organically as well as through acquisitions. In this regard, the company recently introduced a new end-to-end service offering intended to deliver real-world data insights to aid life science companies in enhancing product value demonstration under its PARAXEL Access unit.
PARAXEL operates in a highly fragmented medical services space with the presence of certain well-established players like Medpace Holdings, Inc. (MEDP - Free Report) , BioTelemetry, Inc. (BEAT - Free Report) and CareDx, Inc. (CDNA - Free Report) .
4 Stocks to Watch after the Massive Equifax Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor’s Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
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PAREXEL's Acquisition by Pamplona Approved by Shareholders
PAREXEL International Corporation is again in the news following the receipt of shareholders’ approval for the impending sell-off of the company to certain investment funds associated with Pamplona Capital Management. The transaction is expected to be completed by Sep 29 following which the company will turn into a privately-held organization
Per the terms of this approximately $5-billion worth deal, Pamplona is slated to acquire all of PAREXEL’s outstanding shares for $88.10 a share in cash. According to the company, the offer price by Pamplona was attractively placed at a premium of 27.9% to the stock’s price just before the market speculation of the news which took place on May 5. Hence 98% of shareholders’ votes were casted in favor of the deal. Notably, the company received the acquisition approval after a shareholders meeting held on Sep 15.
PARAXEL also seems to be upbeat about this sell-off. Per management, the deal will help the company solidify its footprint to exploit opportunities in the pharmaceutical and healthcare spaces.
This leading biopharmaceutical services provider delivered encouraging performance in fiscal 2017. Moreover, the company has an attractive track record of growing organically as well as through acquisitions. In this regard, the company recently introduced a new end-to-end service offering intended to deliver real-world data insights to aid life science companies in enhancing product value demonstration under its PARAXEL Access unit.
PARAXEL operates in a highly fragmented medical services space with the presence of certain well-established players like Medpace Holdings, Inc. (MEDP - Free Report) , BioTelemetry, Inc. (BEAT - Free Report) and CareDx, Inc. (CDNA - Free Report) .
4 Stocks to Watch after the Massive Equifax Hack
Cybersecurity stocks spiked on recent news of a data breach affecting 143 million Americans. But which stocks are the best buy candidates right now? And what does the future hold for the cybersecurity industry?
Equifax is just the most recent victim. Computer hacking and identity theft are more common than ever. Zacks has just released Cybersecurity! An Investor’s Guide to inform Zacks.com readers about this $170 billion/year space. More importantly, it highlights 4 cybersecurity picks with strong profit potential.
Get the new Investing Guide now>>