WuXi Enters Agreement to Be Taken Private in $3.3B Deal

WuXi PharmaTech (NYSE: WX) has entered into an agreement to be taken private by a consortium comprised of Ally Bridge Group, Boyu Capital, Temasek Life Sciences and Ping An Insurance, as well as existing investor Hillhouse Capital. The investors will pay $5.75 per ordinary share and $46 per ADS, representing approximately $3.3 billion in aggregate cash consideration. The purchase price represents a premium of 16.5% to the company's closing share price as of April 29. WuXi is an open-access R&D capability and technology platform serving the pharmaceutical, biotechnology and medical device industries. The deal is expected to close in 4Q.

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