UK's Instem soars on $257 mln take-private offer from French PE firm
30/08/2023 08:13
Aug 30 (Reuters) - Shares in Instem Plc INS.L soared
40% on Wednesday after the British life sciences software firm
agreed to a take-private deal with French private equity firm
Archimed SAS for 203 million pounds ($256.5 million).
The deal will help Instem expand its reach in the healthcare
IT sector and use the capital for acquisitions, according to a
joint statement, which sent shares to 822.5 pence in morning
trade.
Under the terms of the deal with Ichor Management, a company
controlled by Archimed, each Instem shareholder will get 833
pence in cash, representing a premium of 41% to its last close.
($1 = 0.7916 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Sonia
Cheema)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))