Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Dechra Pharm PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.