Novo Holdings to buy Catalent for $16.5 billion

Novo Holdings has agreed to acquire Catalent, Inc. (NYSE:) for $63.50 per share in a deal valued at $16.5 billion, including enterprise value, according to a press release.

This transaction offers Catalent stockholders a 47.5% premium over the 60-day volume-weighted average price as of February 2.

Catalent stock rose 13.7% on the news.

The acquisition, aimed at enhancing patient care through Catalent’s development and supply capabilities, is slated for completion by the end of 2024, pending stockholder approval and regulatory clearances.

“Over the past several years, Catalent has built a comprehensive end-to-end offering of services and capabilities to drive innovation in the healthcare system and improve patient outcomes. This transaction is a testament to our team’s hard work and dedication to this mission, and I am incredibly excited for this next step in our journey,” Alessandro Maselli, President and Chief Executive Officer of Catalent, said.

Catalent has enlisted Citi and J.P. Morgan for financial consultancy, while Novo Holdings has appointed Morgan Stanley for financial advice and Goodwin Procter LLP for legal counsel.

Kasim Kutay, CEO of Novo Holdings, said: “We are excited to partner with Catalent as it enters a new phase of growth and accelerates its mission to develop, manufacture and supply products that help people live better and healthier lives. With our expertise and track record of investing in high quality life sciences businesses, we believe Catalent is a very good strategic fit.”

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