logo
Share SHARE
FONT-SIZE Plus   Neg

Dechra Pharma To Buy Eurovet Animal Health For EUR 135 Mln - Quick Facts

Dechra Pharmaceuticals Plc (DPH.L) has agreed terms to conditionally acquire the entire issued share capital of Eurovet Animal Health B.V., the pharmaceutical business of A.U.V. Holding B.V., for 135 million euros or some 112.5 million pounds, on a debt-free, cash-free basis.

The purchase would be funded with the proceeds of a fully underwritten rights issue to raise some 60 million pounds and debt as per the terms of a new debt facility. The Rights Issue would be made on the basis of 3 New Ordinary Shares for every existing 10 Ordinary Shares at a price of 300 pence per New Ordinary Share, representing a discount of 29.6 percent to the theoretical ex-rights price of 426.15 pence per Ordinary Share, based on a Closing Price of 464 pence per Ordinary Share on April 4, 2012.

The AUV and Eurovet management teams, on agreeing the transaction with Dechra as the preferred bidder, expressed a desire to select the right strategic partner, with a shared vision for product innovation, customer focus and growth, to help take Eurovet to its next stage of development.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items. In an unusual incident, an Airbus operated by Singapore Airlines temporarily lost power on both its Rolls Royce engines during a flight and plunged almost 13,000 feet or 3.96 kilometers. However, pilots managed to save the Airbus through standard operational procedures and it continued on its routine path. Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet.
comments powered by Disqus
Follow RTT