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
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
Follow RTT