American investment group Advent International has completed its takeover of Dutch pharmacy and pharmaceutical supply group Mediq.
Advent launched its takeover bid last September with a €13.25 per share offer, valuing the company at €775m. Resistence from a number of shareholders, led by Delta Lloyd, prompted Advent to increase its offer to €14 a share last week. All shareholders are now on board.
Advent said in a press release on Tuesday it now controls 96.1% of the shares.
Mediq said in September Advent had agreed the company headquarters will remain in Utrecht and ‘no jobs will go as a direct consequence of the takeover’.
The company concluded in 2011 the best long term strategy for the group is to delist and continue as a private concern.