Private equity firm Warburg Pincus will acquire ReSearch Pharmaceutical Services Inc. in a deal valued at roughly $227.3 million, Reuters said. The firm has offered $6.10 per shares for the clinical research firm.
(Reuters) – ReSearch Pharmaceutical Services Inc said it agreed to be bought by private equity firm Warburg Pincus, in an all-cash deal worth about $227.3 million.
Warburg Pincus will offer $6.10 per share to shareholders of ReSearch Pharmaceuticals which has 37.3 million outstanding shares, according to its latest regulatory filing.
Clinical research firm ReSearch Pharmaceuticals, which filed for an initial public offering with U.S. regulators in June, said it expects the deal to occur in February.
Jefferies & Co is acting as financial adviser for the Fort Washington, Pennsylvania-based company.
In a regulatory filing ReSearch Pharmaceuticals said it may have to pay Warburg a fee of $10 million and Warburg may have to pay it a reverse fee of $40 million, if the merger agreement is terminated. (Reporting by Anand Basu in Bangalore; Editing by Joyjeet Das)