PAREXEL International Receives Shareholder Approval for Proposed Acquisition by Pamplona Capital Management

9/18/17

BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services company, announced today that its shareholders, at a special meeting held on September 15, 2017 in Boston, Massachusetts, approved the previously announced proposed acquisition of the Company by certain investment funds affiliated with Pamplona Capital Management ("Pamplona"). 78.3 percent of the Company’s shares outstanding were voted, with more than 98 percent of the votes cast in favor of the proposal, representing more than 77 percent of PAREXEL’s issued and outstanding shares. Under the terms of the proposed acquisition, Pamplona will acquire all outstanding shares of PAREXEL for $88.10 per share in cash.

The closing of the transaction is anticipated to occur on or about Friday, September 29, 2017, subject to the satisfaction of customary closing conditions at such time. At the closing, PAREXEL will become a privately held company and shares of PAREXEL’s common stock will no longer be listed on any public market.

About PAREXEL International Corporation

PAREXEL International Corporation is a leading global biopharmaceutical services company, providing a broad range of expertise-based clinical research, consulting, medical communications, and technology solutions and services to the worldwide pharmaceutical, biotechnology, and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL has offices in 85 locations in 52 countries around the world, and had approximately 18,900 employees at the end of the fourth quarter. For more information about PAREXEL International Corporation visit www.PAREXEL.com.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.