This content is not available in your region

UK pharma services firm Clinigen gets possible takeover proposal

By Reuters

-UK’s Clinigen said on Thursday it received a possible takeover proposal from UK-based private equity firm Triton Investment Management, sending shares of the British pharmaceutical services firm soaring 15%.

The proposal comes weeks after Elliott Management raised its stake in the company, with a Sky News report saying that the activist investor was floating a break up of the firm.

Clinigen also said it was in advanced talks with Triton regarding the proposal, but advised shareholders not to take any action.

The company, which helps drug developers manage clinical supplies and provides real-world data about medicines, had a market value of about 842 million pounds ($1.12 billion), according to Refinitiv Eikon.

Triton, meanwhile, invests mainly in Europe, and has seven healthcare companies in its portfolio.

($1 = 0.7508 pounds)