'Sweetened' price agreed for UDG Healthcare

Private equity firm Clayton, Dubilier & Rice has agreed to buy Irish healthcare services group UDG Healthcare for about €3.3bn in cash after winning the backing of key shareholders

UDG provides a range of services to pharmaceutical customers in about 25 countries. File picture: Pexels

Private equity firm Clayton, Dubilier & Rice has agreed to buy Irish-founded and headquartered healthcare services group UDG Healthcare for a sweetened offer of about £2.8bn (€3.3bn) in cash after winning the backing of key shareholders.

The price amounts to 1,080 pence a share, the companies said. Last week, CD&R said it was considering raising its offer to that level after some of Dublin-based UDG’s largest investors complained a previous bid was too low.