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 story : Thermo Fisher to buy PPD, in a cash deal valued at .4 billion including debt #FinanceUSA #StockMarketNEWS Shares of PPD Inc. rallied 7.3% in premarket trading Thursday, after Thermo Fisher Scientific

@stockMarketNEWS Thu 15 Apr, 2021

Posted in: #FinanceUSA #StockMarketNEWS

Thermo Fisher to buy PPD, in a cash deal valued at .4 billion including debt #FinanceUSA #StockMarketNEWS
Shares of PPD Inc. rallied 7.3% in premarket trading Thursday, after Thermo Fisher Scientific Inc. confirmed an agreement to buy the pharmaceutical-testing company in a cash deal valued at .4 billion, including .5 billion in debt. Thermo Fisher shares gained 3.1% ahead of the open. Under terms of the deal, Thermo Fisher will pay .50 for each PPD share outstanding, which is a 10.5% premium to Wednesday's closing price of .00, and implies a market capitalization for PPD of .64 billion. The deal was reported by The Wall Street Journal late Wednesday. Thermo Fisher said it expects cost synergies of about million after the deal's closing, which is expected to occur by the end of 2021, and expects the deal to add .40 to adjusted earnings per share in the first 12 months after the close. PPD's stock has rallied 25.7% year to date through Wednesday and Thermo Fisher shares have edged up 2.6%, while the S&P 500 has gained 9.8%.


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