Syneos Health gains on $4.46 bln take-private deal

Syneos Health

10/05/2023 13:04

(Updates)
    ** Shares of clinical research service provider Syneos
Health Inc  SYNH.O  jump as much as ~15% to $44.2 premarket
    ** An investment consortium comprising Elliott Investment
Management, Patient Square Capital and Veritas Capital has
agreed to take contract research firm Syneos private for $4.46
bln 
    ** The acquisition is valued at $7.1 bln, including debt
    ** The per-share offer price of $43 represents about 12%
premium to stock's last close 
    ** The per-share price is also 14% higher than the stock's
value on Feb. 24, the last trading day before Reuters reported
Syneos was exploring a sale
    ** Since then, the stock has traded in a range of $43.35 to
$32.74; analysts' median PT is $40 - Refinitiv

 (Reporting by Khushi Mandowara and Bhanvi Satija in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))