(Reuters) – Britain’s Alliance Pharma said on Friday it has agreed to be acquired by asset management firm DBAY Advisors in an all-cash deal valuing the healthcare group at 349.7 million pounds ($429.6 million).
The 62.5 pence-per-share offer represents a premium of about 41% to Alliance Pharma stock’s Thursday close.
The acquisition is expected to be completed in the first half of 2025, and the Alliance board said it intends to unanimously recommend that shareholders vote in favour of the deal.
UK-based Alliance, which markets and distributes over-the-counter consumer healthcare and prescription products across Europe, North America and Asia Pacific, is the latest among a host of British firms being bought out or becoming the target of potential buyers.
Alliance saw a change of its CEO last year when Nick Sedgwick took over the top role in mid-2024, and posted a 23% growth in its underlying pre-tax profit for the six months ended June 30.
($1 = 0.8140 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D’Souza and Mrigank Dhaniwala)
