Dechra Pharma Agrees To Be Acquired By EQT's Freya Bidco For 3,875p/share In Cash

(RTTNews) - Dechra Pharmaceuticals Plc. (DPH.L) Friday said it reached agreement to be acquired by Freya Bidco Limited for 3,875 pence per share in cash. The deal values Dechra at approximately 4.46 billion pounds, and implies an enterprise value of 4.88 billion pounds.

Dechra and Freya Bidco, a newly formed company to be indirectly owned by EQT Fund Management S.à r.l., and Luxinva S.A., which is a unit of ADIA, have agreed on the terms and conditions of a recommended cash acquisition.

The acquisition price per Dechra share represents a premium of approximately 44 percent to the Closing Price of 2,690 pence per Dechra Share on April 12, being the last Business Day before the commencement of the Offer Period.

It is intended that the acquisition will be implemented by way of a court-sanctioned scheme of arrangement.

The Dechra Directors consider the terms to be fair and reasonable, and intend to recommend unanimously that Shareholders vote in favour of the Scheme at the Court Meeting and the resolution to be proposed at the General Meeting .

The acquisition is currently expected to complete towards the end of 2023 or early 2024, subject to the satisfaction or waiver of the conditions.