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Permira Funds To Acquire Cambrex In $2.4B Deal

Permira Funds To Acquire Cambrex In $2.4B Deal

Cambrex (NYSE: CBM) shares are trading sharply higher after the company announced it will be acquired by the Permira Funds in a deal valued around $2.4 billion.

Cambrex shareholders will receive $60 in cash for each share of Cambrex common stock, which represents a 47.1% premium to the August 6 closing stock price and a 37.3% premium to the 60-day volume weighted average closing price.

"We are excited to announce this transaction with Permira, a global private equity firm that has made significant investments in the pharma services space. This agreement is a strong endorsement of our strategy and represents significant value for our shareholders," said Steve Klosk, President and CEO of Cambrex. "Cambrex will continue to invest aggressively in our commitment to our global customer base, where we are constantly looking at ways to provide the broadest possible range of world class services."

Cambrex shares were trading up 47.62% at $60.20 in Wednesday’s pre-market session. The stock has a 52-week high of $69.42 and a 52-week low of $33.80.

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