Private equity firm Permira to buy UK's Ergomed for 703 million pounds (updated)

Ergomed

04/09/2023 07:27

(Adds detail on deal alternative, premium to last close and
recommendation by board)
       Sept 4 (Reuters) - British biopharmaceutical services
firm Ergomed  ERGO.L  said on Monday it has agreed to be bought
by private equity firm Permira funds for about 703.1 million
pounds ($886.40 million).
    The deal for 1,350 pence per share in cash represents a
premium of about 28% to Ergomed's last closing price.
    Permira is also offering an alternative to the cash offer,
whereby eligible shareholders in the London-listed company would
get 451 pence in cash plus unlisted securities.
    Ergomed's board consider the terms of the cash offer to be
fair and reasonable and recommend shareholders vote in favour of
the deal, the company said.
    They are not making any recommendations to shareholders with
regards to the alternative offer. 

($1 = 0.7932 pounds)

 (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shilpi
Majumdar)
 ((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150;))