Pet Drug Maker Strikes £4.5 Billion Buyout Deal: The London Rush

Bowie the sheepadoodle at an apartment in the Dumbo neighborhood of the Brooklyn borough of New York, U.S., on Sunday, Oct. 17, 2021. Pets famously provided solace for isolated Americans during the height of the Covid-19 pandemic.Photographer: Allison Hess/Bloomberg

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By Charles Capel and Gabriela Mello

June 2, 2023 at 6:51 AM UTC

This article is for subscribers only.

It was only in November last year when Dechra Pharmaceuticals, the pet medicine maker, was a member of the FTSE 100, with a peak market cap of about £5.8 billion. Fast forward to this morning, now a member of the FTSE 250, when they agreed to a £4.5 billion takeover deal from Swedish investment firm EQT — a lower price to the offer on the table a few months ago.

Here’s the key business news from London this morning: