Funds managed by GHO Capital Partners and Ampersand Capital Partners have signed a definitive agreement to acquire biologics contract development and manufacturing organisation (CDMO) Avid Bioservices in a $1.1bn cash transaction.
The merger agreement stipulates that GHO and Ampersand will purchase all outstanding shares of Avid for $12.50 per share in cash.
The acquisition price reflects a 13.8% premium over the closing share price of Avid Bioservices on 6 November 2024, the last full trading day before the announcement.
It also represents a 21.9% premium over the 20-day volume-weighted average share price leading up to the same date.
https://finance.yahoo.com/news/gho-ampersand-capital-acquire-avid-115956089.html
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