Syneos Health up on nearing a $7 bln buyout deal

Syneos Health

10/05/2023 10:30

** Shares of clinical research service provider Syneos
Health Inc  SYNH.O  up 12.8% at $43.3 before the bell
    ** A consortium is nearing a deal to buy Syneos for about
$43/share in cash, Reuters reports
    ** The consortium of Elliott Investment Management, Patient
Square Capital and Veritas Capital is looking to buy SYNH for
more than $7 bln, including debt
    ** The per-share price is 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, per Refinitiv data

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