Patterson Companies surges after $4.1 bln deal to go private

Patterson Companies

11/12/2024 12:56

(Updates)
    ** Shares of Dental and animal health distributor Patterson
Companies  PDCO.O  up 34.6% at $31.10 in premarket trading
        ** Co agrees to be acquired by healthcare investment
firm Patient Square Capital in a deal valued at about $4.1
billion
    ** Under deal terms, co's shareholders will receive $31.35
per share in cash, a 35.7% premium to PDCO's last close
    ** PDCO will become a privately held company upon deal
completion, which is expected in the Q4 of co's fiscal 2025
    ** Up to last close, shares down ~18% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))