The private equity firm Genstar Capital has struck a deal to buy PRA International for $744 million, a premium of about 13 percent on PRA's stock price. The big CRO gets 50 days to solicit a better offer, but any new suitor would have to pay a $7.9 million break-up fee. The deal is expected to wrap in the fourth quarter.
- see this release
- here's a report on the deal from the BBC
PRA International Appoints Bieker as CEO. Report