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Mon December 5, 2011
$3.9 Billion Acquisition of PPD Complete
The $3.9 billion acquisition of PPD by the Carlyle Group and Hellman and Friedman is now complete.
WHQR’s Michelle Bliss reports that company officials made the announcement Monday.
PPD is now a private company, so its common stock will no longer be listed for trading on NASDAQ.
PPD’s shareholders voted to approve the merger in a special meeting last month. They’ll receive more than $33 in cash for each share they own of the company’s common stock.
At its headquarters in Wilmington, PPD employs about 1,500 people. Company officials have said that day-to-day operations in the port city will not change, even though PPD will be a private company after the all-cash transaction.
The Carlyle Group is a global alternative asset manager with more than $150 billion in assets. Hellman & Friedman is a private equity investment firm.
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