PPD to Be Acquied by US Private Equity in $3.9B Deal
Pharmaceutical Product Development is to be bought by US private equity firms The Carlyle Group and Hellman & Friedman for US$3.9bn in cash.
Pharmaceutical Product Development, Inc. (PPD) is to be acquired by US private equity firms The Carlyle Group and Hellman & Friedman for $3.9 billion in cash.
The definitive merger agreement will make US-based contract research organisation PPD a private company. The transaction is expected to close in 4Q11.
"The sale of PPD to The Carlyle Group and Hellman & Friedman provides an attractive return for our shareholders, while also ensuring a secure foundation and commitment to investment, innovation and excellence for PPD clients and employees as the company builds on its 25-year history of success,” said Fred Eshelman, founder and executive chairman of PPD.
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