Private equity firm poised to sweeten UDG bid after investor opposition (Adds deal details, background) June 25 (Reuters) – Private equity firm Clayton, Dubilier & Rice (CD&R) was planning to increase its offer to buy UDG Healthcare to 2.72 billion pounds ($3.79 billion), the London-listed company said on Friday, following investor opposition to a previously agreed bid.Ireland-based UDG said the potential 1,080 pence per share offer would be CD&R’s final, adding that it plans to recommend the proposal.In May, both the companies had agreed to a 1,023 pence per share offer.While UDG’s board backed the first offer, its largest shareholder Allianz Global Investors said last month the bid was “opportunistic and significantly undervalues UDG and its prospects”.Activist investor Elliott took a stake in UDG weeks after the first offer was made, while media reports said investor M&G was also not in favour of CD&R’s previous proposal.UDG said on Friday it had not received any other buyout proposals.
($1 = 0.7182 pounds) (Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta) First Published: 2021-06-25 08:21:03 Updated 2021-06-25 08:53:50 © 2021 Thomson Reuters.All rights reserved.Reuters content is the intellectual property of Thomson Reuters or its third party content providers.Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.”Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Market Data & Tools What is RSS? » Risk Disclosure: Sharenet will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals.
Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.Currency trading on margin involves high risk, and is not suitable for all investors.Trading or investing in crypto currencies carries with it potential risks.Prices of crypto currencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
Crypto currencies are not suitable for all investors.Before deciding to trade foreign exchange or any other financial instrument or crypto currencies you should carefully consider your investment objectives, level of experience, and risk appetite.Sharenet would like to remind you that the data contained in this website is not necessarily real-time nor accurate.All CFDs (stocks, indexes, futures), Forex and crypto currencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.Therefore Sharenet doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.Sharenet may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics.The calculation/derivation may include underlying JSE data.
Sharenet Group of Companies are authorised financial services providers.Sharenet Securities FSP#: 28430 | Sharenet Wealth FSP#: 41688
© 2021 SHARENET (PTY) Ltd, Cape Town, South Africa
.
