PPD Draws Big Money from PE Duo
October 4, 2011- Share:
The Carlyle Group and Hellman & Friedman have agreed to take Pharmaceutical Product Development (NASDAQ: PPDI) private in a $3.9 billion transaction. The firms intend to pay PPD stockholders $33.25 per share, which represents a 29.6% premium. Equity financing for the deal is being provided through the Carlyle Partners V and Hellman & Friedman Capital Partners VII funds, while debt financing commitments have been secured from Credit Suisse, JP Morgan, Goldman Sachs and UBS. PPD is a contract research organization providing drug discovery, development and lifecycle management services.
- Share:
-
-
-
-