Carlyle, Hellman To Take PPD Private For $3.9B

Law360, New York (October 3, 2011, 2:41 PM EDT) -- Pharmaceutical Product Development Inc. said Monday that private equity buyers The Carlyle Group LP and Hellman & Friedman LLC planned to take the profitable pharmaceutical industry contract research company private for $3.9 billion in a bid to boost its growth.

Carlyle and Hellman & Friedman will buy the Wilmington, N.C.-based company for $33.25 per share in cash, representing a per-share premium of 29.6 percent over the target's Sept. 30 closing price, PPD said.

PPD contracts with pharmaceutical, biotechnology, medical device, academic and government clients to perform drug...
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