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
Ciena Corp., a provider of communications networking solutions, on Thursday reported a turnaround to profit in the fourth quarter on higher revenues and lower expenses. However results for the quarter missed analysts' estimates. Looking ahead, the company forecast revenue for the first quarter of fiscal 2017 in line with analysts' expectations. Wearable fitness device maker Fitbit Inc. said it has acquired the assets of struggling smartwatch startup Pebble, including key personnel and intellectual property related to software and firmware development. The acquisition excludes Pebble's hardware products. Financial terms of the deal were not disclosed. Starbucks is teaming up with Pokémon Go, a location based augmented reality game, to turn its stores into PokéStops and Gyms, reports said. Further, the coffee giant reportedly would open Italian bakeries that serve pizza, with the first store expected to open in late 2017.
comments powered by Disqus
Follow RTT