Private Equity Firm to Buy UDG Healthcare in $3.7bn Deal

Private equity firm Clayton, Dubilier & Rice has agreed to buy London-listed UDG Healthcare for $3.7bn, the pharmaceuticals services company said on Wednesday.

CD&R will pay about $14.46 in cash per share in UDG, a premium of 21.5% on Tuesday’s close.

UDG, which has its headquarters in Dublin, specialises in healthcare advisory, communications, commercial, clinical and packaging services.

“We believe that this is an attractive offer for UDG shareholders, which secures the delivery of future value for shareholders in cash today,” UDG Chairman Shane Cooke said in a statement.

UDG has two divisions — Ashfield and Sharp — and employs around 9,000 people in 29 countries.

“UDG has long established itself as a leading provider of high-value services to pharma and biotech companies globally, supported by a highly skilled workforce,” said CD&R partner Eric Rouzier.