Asset management firm DBAY to buy UK's Alliance Pharma in $430 million deal (updated)
10/01/2025 07:45
(Adds details of deal in paragraphs 2 and 3)
Jan 10 (Reuters) - Britain's Alliance Pharma ALAPH.L
said on Friday it has agreed to be acquired by asset management
firm DBAY Advisors in an all-cash deal valuing the healthcare
group at 349.7 million pounds ($429.6 million).
The 62.5 pence-per-share offer represents a premium of about
41% to Alliance Pharma stock's Thursday close.
The acquisition is expected to be completed in the first
half of 2025, and the Alliance board said it intends to
unanimously recommend that shareholders vote in favour of the
deal.
UK-based Alliance, which markets and distributes
over-the-counter consumer healthcare and prescription products
across Europe, North America and Asia Pacific, is the latest
among a host of British firms being bought out or becoming the
target of potential buyers.
Alliance saw a change of its CEO last year when Nick
Sedgwick took over the top role in mid-2024, and posted a 23%
growth in its underlying pre-tax profit for the six months ended
June 30.
($1 = 0.8140 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Savio D'Souza and Mrigank Dhaniwala)
((abyjose.koilparambil@thomsonreuters.com))