Veterinary Drugmaker Dechra Pharma in Talks With Swedish Firm Over £4.6 Billion Takeover
- Swedish investment firm has until May 11 to make a firm offer
- Dechra poised to recommend shareholders vote in favor of deal
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Dechra Pharmaceuticals Plc stock soared after the veterinary drugmaker confirmed it is in discussions with EQT AB about a possible all-cash takeover in what could be one of the largest UK take-private deals this year.
The UK-based company said Swedish investment firm EQT is proposing to pay Dechra investors 4070 pence a share. This equates to a value of about £4.6 billion ($5 billion) and reflects a premium of 51% on the closing stock price on Wednesday before news of the potential deal broke.