UK's Ergomed rises after agreeing to PE firm's $886 mln buy out offer

Ergomed

04/09/2023 08:16

** Shares of Ergomed Plc  ERGO.L  gain 26% to over 7-month
high of 1,325.5p, top pct gainer across all London shares  
    ** British biopharmaceutical services firm agrees to be
bought by PE firm Permira Funds for about 703.1 mln pounds
($886.4 mln)
    ** Deal for 1,350p per ERGO share in cash, representing
premium of 28% to its last close 
    ** Permira offers alternative to cash offer, whereby
eligible shareholders of ERGO will get 451p in cash plus
unlisted securities
    ** Up to last close, stock had fallen ~17% this year 


    
   

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))