Just last week, contract development and management organization Albany Molecular Research (AMRI) agreed to be acquired by affiliates of The Carlyle Group and GTCR for about $922 million cash, while JSR Life Sciences announced it would acquire mammalian cell-line development specialist Selexis, and integrate it with KBI Biopharma.
Private equity firm Pamplona Capital Management LLP is nearing a deal to acquire US pharmaceutical research services provider Parexel International Corp for more than $4.5 billion, a person familiar with the matter said on Tuesday.
Up to Monday's close, shares of Parexel had risen almost 22 percent since reports in early May that the company was exploring a sale.
Shares of Parexel closed Monday at $83.92 apiece.
Summer Solstice 2017: Facts To Know About The First Day Of Summer
As Earth orbits the Sun, its axis of rotation is tilted at an angle of 23.5 degrees from its orbital plane. However, our earliest sunrise in Madison occurs in mid-June while our latest sunset occurs in late June.
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's board has unanimously approved the deal, but shareholders still have to vote on it. "We believe the more flexible corporate structure afforded by this transaction will better position us to advance Parexel's strategy in light of these realities and to shape the Company to best capitalize on our exciting market opportunities".
Parexel International Corp., based in Waltham, Massachusetts, provides clinical research, technology consulting and medical communications to the drug and medical device industries.