Private Equity Firm Pamplona Capital to Acquire CRO Parexel for $5 Billion
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Parexel, a contract research organization, has agreed to be acquired by Pamplona Capital Management, an investment firm, for $88.10 per share or approximately $5.0 billion, including Parexel net debt. The deal would take the now publicly traded Parexel private.

The transaction is expected to close early in the fourth quarter of 2017, subject to the approval of a majority of Parexel shareholders and the satisfaction of other customary closing conditions.

Parexel expects to hold a special meeting of shareholders to consider and vote on the proposed agreement with Pamplona as soon as practicable after the mailing of the proxy statement to shareholders.

The Parexel Board of Directors unanimously approved the transaction and intends to recommend that all Parexel shareholders vote to approve the agreement with Pamplona.

Upon the completion of the transaction, Parexel will become a privately held company and shares of Parexel’s common stock will no longer be listed on any public market.

Source: Paraxel

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