May 17, 2021 | Health Care | Europe | Active

UDG Healthcare / Clayton, Dubilier & Rice: New Deal Insights


On 12-May-21, private equity firm Clayton, Dubilier & Rice entered into a definitive agreement to acquire London-listed healthcare services provider, UDG Healthcare, for 1,023p per share via a UK scheme of arrangement. The offer implies a one-day premium of 21.5% to the previous day’s close and the price will be reduced by any dividends that UDG distributes (no dividend was declared in UDG’s interim results). As a scheme, the acquisition requires approval from 75% of UDG shareholders present and voting at the Court Meeting and EGM. UDG directors holding 0.16% have offered irrevocable commitments to vote in favour, and small cap institutional investor Kabouter Management, which holds 5.5% of UDG, has written a letter of ...



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