Deals
EQT to Buy Dechra for £4.5 Billion After Agreeing Price Cut
- Take-private of UK vet drugmaker biggest in Europe this year
- EQT to pay 4.8% less after Dechra issued profit warning
Dechra is best known for making drugs for pets such as dogs, cats and rabbits
Photographer: EyeOnThis article is for subscribers only.
EQT AB agreed to buy UK veterinary drugmaker Dechra Pharmaceuticals Plc for a lowered price of £4.46 billion ($5.6 billion) in what is still the biggest European take-private this year.
The Swedish buyout firm will pay Dechra investors 3,875 pence a share under terms of the recommended cash offer, according to a statement on Friday that confirmed a Bloomberg News report. The parties agreed to reduce the previously discussed price by 4.8% after the UK company made a profit warning in the middle of takeover talks.