logo
Share SHARE
FONT-SIZE Plus   Neg

EResearchTechnology To Be Acquired By Affiliates Of Genstar Capital

eResearchTechnology, Inc. (ERT: Quote) 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
The Germanwings plane crash has spurred European airlines to implement stringent cockpit rules widely followed in the U.S., after it emerged a lone co-pilot forced the plane into its fatal descent, reports said on Thursday. Video-game retailer GameStop Corp. said Thursday after the markets closed that its fourth quarter profit rose 11% from last year, as better cost control helped offset a 5.6% decrease in sales. However, the company's quarterly earnings per share, excluding item, came in below analysts' expectations as did its quarterly sales. The Villages, a serene retirement hometown in Florida has been designated as the fastest-growing metro in the U.S. for the second consecutive year, as per Census estimates released on Thursday.
comments powered by Disqus
Follow RTT