Quintiles' founders bank $770M in secondary offering

A group of Quintiles ($Q) shareholders including the CRO's founder made about $770 million in a secondary stock offering, selling a bulk of shares back to the company and cashing in on its success. A cadre of investors including founder Dennis Gillings, Bain Capital, TPG Capital and 3i priced about 11.9 million shares at $65 each, selling about 3.9 million of them to Quintiles. Gillings, who has gradually sold off millions of his Quintiles shares since the company's 2013 IPO, is planning to step down from the chairman position at the end of the year, transitioning into a more advisory role at the world's largest CRO. More