(RTTNews) - Covetrus (CVET) has entered into a definitive agreement pursuant to which funds affiliated with Clayton, Dubilier & Rice, and TPG Capital will acquire all outstanding shares of Covetrus common stock not already owned by affiliates of CD&R for $21.00 per share in cash, representing an enterprise value of approximately $4 billion. Upon completion, Covetrus will become a private company and will no longer be publicly listed or traded on NASDAQ.
CD&R and its affiliates currently beneficially own approximately 24% of Covetrus' outstanding shares of common stock.
The transaction will be financed through a combination of cash funded by investment funds affiliated with CD&R and TPG Capital, and committed debt financing.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
