UK Pharmaceutical Company ‘Clinigen’ Agrees to Take Private Deal Worth $1.6 Billion


The company ‘Triton Investment Management LTD.’ Has now agreed to purchase the Clinigen Group Plc, which is a pharmaceutical company based in the United Kingdom, which has been targeted by the activist Elliott Investment Management previously 2021.

The shareholders of Clinigen are going to be receiving 883 pence per share, which has been equivalent to 1.6 billion dollars in cash, and this purchase has been reflecting a premium of 41 percent to the price before the talks started and a final dividend declared earlier is also going to be paid out.

The shares of Clinigen has been increased as much as 11 percent to 910p in London, which has been the trading above the offer price that can possibly indicate the market that has been expecting a competitor bidder can possibly emerge.

Previously 2021, Elliott, which has been one of the most feared activist across the world, has disclosed a stake of 5 percent in Clinigen, which has been pushing for the breaking up of the company and the sales of the pharmaceuticals division of the company. Elliott has also been holding a stake of around 8 percent, which has been responsible for making the biggest shareholder of the company.

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The company ‘Clinigen’ has also been acquiring the rights to niche the commercial drugs and also been expanding their distribution, and it has also been helping the patients to get access to the treatments, which are not licensed in several countries.