Albany Molecular Research To Be Taken Private For $21.75 a Share In Cash
Albany Molecular Research Inc. said Tuesday it has agreed to be acquired by private-equity firms The Carlyle Group and GTCR LLC for $21.75 a share in cash, equal to a 42% premium over its 60-day weighted average closing stock price. The deal has been approved by AMRI's board and must now be approved by shareholders. The deal will be financed with a mixture of debt and equity financing, the sponsors said. AMRI shares were halted in premarket trade for the news, but have gained 5% in 2017, while the S&P 500 has gained 9%.
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