- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Warburg Pincus to buy ReSearch Pharma for $227 million
(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)
- Tweet this
- Share this
- Digg this