|
|
Article: IMS Health to be bought for $4 billion by TPG, CPP
- Article from:
- AP Online
- Article date:
- November 5, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Health care data company IMS Health Inc. said Thursday it is being bought by investment funds TPG Capital and CPP Investment Board for $4 billion.
IMS shareholders are getting $22 per share under the deal, marking a 31 percent premium to the stock's closing price of $16.81 on Wednesday.
Shares rose $4.02, or 23.9 percent, to $20.83 in morning trading. The stock earlier set a new 52-week high of $21.09.
The company, based in Norwalk, Conn., said the deal is valued at $5.2 billion including the assumption of debt.
The announcement comes after weeks of speculation following media reports in October that the company was on the auction block. On Oct. 20, the company ...