PPD now private company as acquisition finalized

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Two private equity firms have completed their acquisition of Wilmington-based PPD Inc., PPD said Monday.

This means that PPD, or PPDI on the Nasdaq Stock Exchange, will no longer be traded as the deal takes the clinical research organization private.

The acquisition by The Carlyle Group and Hellman & Friedman is valued at $3.9 billion, or $33.25 a share.

PPD shareholders approved the deal at a meeting at PPD’s Wilmington headquarters Nov. 30.

Check back later for more on this developing story.

Source: The Wilmington Star News