logo
Share SHARE
FONT-SIZE Plus   Neg

EResearchTechnology To Be Acquired By Affiliates Of Genstar Capital

eResearchTechnology, Inc. (ERT) said it has entered into a definitive agreement to be acquired by affiliates of Genstar Capital LLC for $8.00 per share in cash in a transaction valued at around $400 million. The transaction is expected to be completed during the third quarter.

The proposed transaction has been approved unanimously by eResearchTechnology's board of directors, following a recommendation by a special committee of independent directors, and suggests that the company's shareholders approve the transaction.

Dr. Jeffrey Litwin, CEO of ERT, added, "We are pleased to announce this transaction with Genstar, whose experienced team of healthcare executives can provide strategic oversight, as well as acquisition capital, to expand the company's service offering and market opportunities. They will help position ERT to better serve our clinical research clients by continuing to fund the innovative devices and services that have made us the premier provider of health outcomes research services."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT