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Teneo is providing PR services to private equity firm Clayton, Dubilier & Rice as it moves to acquire Dublin-based UDG Healthcare in a deal worth $3.7B.
UDG supplies advisory, marketing communications, strategic engagement, technology and manufacturing support to pharmaceutical and biotechnology companies.
CD&R purchased UK-based Huntsworth healthcare communications firm for $511M in 2020.
It plans to merge UDG’s Ashford advisory unit with Huntsworth to support clients across the life cycle of a drug, from development to launch and beyond patient expiry across therapeutic areas.
UDG Chairman Shane Cooke said CD&R made an attractive offer that “reflects the quality, strength and long-term performance of UDG’s business and future growth potential.”
Teneo has Philip Gawith and Haya Herbert-Burns repping CD&R, while Powerscourt’s Lisa Kavanagh, Jack Hickey and Eavan Gannon advise UDG.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
