Dechra Pharmaceuticals in takeover talks with PE firm EQT
Dechra Pharmaceuticals confirmed on Thursday that it has entered into discussions with private equity firm EQT about a possible all-cash recommended offer for the company.
Dechra Pharmaceuticals
3,866.00p
08:01 16/01/24
FTSE 250
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17:09 23/12/24
FTSE 350
4,471.06
17:09 23/12/24
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16:44 23/12/24
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Under the terms of the offer, Dechra shareholders would receive 4,070p per share in cash.
Dechra said that if a firm offer is made, it is currently being discussed that the private equities investment department of the Abu Dhabi Investment Authority (ADIA), through a wholly-owned subsidiary of ADIA, would be a co-investor with EQT.
The veterinary pharmaceuticals group said that having considered the offer with its financial adviser, Investec, it has confirmed to EQT that it is prepared to provide a recommendation at the possible offer price indicated should the PE firm announce a firm intention to make an offer on such terms.
It added that there can be no certainty any firm offer will be made and that a further announcement will be made as appropriate.
Shares closed up 1.6% at 2,733.53p. The announcement was made after the close of markets.