CLIN.L Share News (CLIN)

(Sharecast News) - Clinigen surged on Wednesday after agreeing to be taken private by European investment firm Triton in a £1.2bn deal.

Under the terms of the deal, Clinigen shareholders will receive 883p a share in cash. This is a 41% premium to the ex-dividend closing share price on 1 December, which was the last business day before the start of the offer period.

Clinigen shareholders will also be entitled to receive the previously declared final dividend of 5.46p a share.

Chairman Elmar Schnee said: "Since IPO, Clinigen has grown significantly to become the trusted global leader in access to medicine. We make sure a healthcare professional with a patient in need, anywhere in the world, can always get the right medicine for their individual patient quickly, easily and safely whether licensed or unlicensed.

"Clinigen has delivered meaningful value creation to its shareholders with significant growth in revenue, earnings and cash flow since IPO. The Clinigen board believes this offer represents an exceptional opportunity for Clinigen shareholders to realise value for their investment in cash at a very attractive valuation. We are therefore unanimously recommending it to our shareholders."

At 0820 GMT, the shares were up 11% at 906.16p.