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Positive comments on results I topped up at 3762p, opened up but then fell below recent lows .
Traders on it maybe .
Sold that top up back 4226p
Primary Bid .
Dechra to raise GBP180 million to acquire Piedmont Animal Health
Wed, 20th Jul 2022 18:34
(Alliance News) - Veterinary products firm Dechra Pharmaceuticals PLC on Wednesday said it is planning a fundraise for an acquisition, as it progresses talks for another potential buy.
FTSE-100 listed Dechra said it has agreed to acquire Piedmont Animal Health Inc for USD210 million, or GBP175 million, in cash.
Greensboro, North Carolina-based Piedmont makes products for the companion animal market, which will add to Dechra's portfolio of innovative and novel solutions for vets and pet owners.
To fund the acquisition, Dechra plans to raise GBP180 million via the issue of 5.2 million shares at 3,430 pence each.
The shares represent around 4.8% of its existing share capital, with the placing price being an 8% discount to the closing share price on Wednesday in London of 3,730.00 pence.
Dechra also said it plans to undertake PrimaryBid offer at the same price.
The capital fundraise will give its balance sheet the flexibility to execute on its acquisition pipeline "including on one near term opportunity which the company is in exclusive discussions to acquire with an acquisition price similar to Piedmont," Dechra says.
If completed, the acquisition of Piedmont and the potential other acquisition will become accretive to earnings per share from financial 2025, and "materially accretive thereafter", the firm said.
The pharmaceutical company also said there has been no change to its outlook since its update in early July, where it reported strong trading that remains in line with expectations.
Investec Bank PLC will serve as financial adviser, sole broker and bookrunner for the placing.
Dipped a toe in today in anticipation of a better year ahead
good call,got in myself at 26.61, probably sell half at 30.00
RNS OFFER 4,070
Below 7/9/21 @ 4800 first buy
Below the slice 4226 slice on 3rd March last year .
The PB Placing 21/7/22 was 3,430 so they have done OK can not see an OO to holders at the time .
In the FTSE 250, Dechra Pharmaceuticals surged 38% to 3,830 pence.
Late Thursday, the veterinary pharmaceutical company confirmed that it has entered into discussions with private equity firm EQT for a possible cash takeover offer.
Under the terms of the possible offer, Dechra shareholders would receive 4,070 pence per ordinary share in cash. The offer price is a 49% premium to Thursday's closing price.
"There can be no certainty that any firm offer will be made for Dechra," the company said.
Topped up 3700 9 % below the offer .
Paid out today lost about £57.50 adding and subtracting monies in and out.
Got the 3875p
I have waited 7 months for this cash .
2/6/23 LOWER OFFER OF 3875p EXCEPTED, price 6/6/23 3636p ( 3636 to 3875 is 6.85% )
Notes .
24/5/23 FALL TO 3102 .
The first offer must of been pulled.
14/4/23 Showing 35% up ( D ) to 3770p
Offer in 4070
14/4/23 Bought for 3700 ( -9 % ) have lots of spare funds .