eResearchTechnology/Genstar Capital
On April 10, 2012, eResearchTechnology, Inc. (ERT), (Nasdaq: ERT) entered into a definitive agreement to be acquired by affiliates of Genstar Capital for $8.00 per share in cash in a transaction valued at approximately $400 million.
Pending stockholder approval and satisfaction of normal regulatory and closing conditions, the transaction is expected to be completed during Q312. The Company's stockholders will be given notice of the sale and certain information about the transaction in a Proxy Statement that will be sent to stockholders. Following completion of the transaction, ERT will become a privately held company and its stock will no longer trade on Nasdaq.
J.P. Morgan Securities LLC is financial advisor and provided a fairness opinion to the special committee in connection with the transaction. Pepper Hamilton LLP is legal advisor to ERT in connection with the transaction. Credit Suisse Securities (USA) LLC is acting as the financial advisor to Genstar and Latham & Watkins LLP is acting as legal advisor.
Pending stockholder approval and satisfaction of normal regulatory and closing conditions, the transaction is expected to be completed during Q312. The Company's stockholders will be given notice of the sale and certain information about the transaction in a Proxy Statement that will be sent to stockholders. Following completion of the transaction, ERT will become a privately held company and its stock will no longer trade on Nasdaq.
J.P. Morgan Securities LLC is financial advisor and provided a fairness opinion to the special committee in connection with the transaction. Pepper Hamilton LLP is legal advisor to ERT in connection with the transaction. Credit Suisse Securities (USA) LLC is acting as the financial advisor to Genstar and Latham & Watkins LLP is acting as legal advisor.
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Notable Mergers and Acquisitions of the Day 04/10: (XRIT)/(DHR) (ERT) (GLW) (AMGN)
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UPDATE: eResearchTechnology (ERT) to Be Acquired by Genstar Capital for $8/Share in Cash
