Blackstone is working with the management of I’rom Group to take the Japanese pharmaceutical services company private.
A tender offer will be made to acquire I’rom Group shares at ยฅ2,800 per share โ a premium of about 50% to Monday’s closing price of ยฅ1,873, according to a company statement. Pending the success of the bid, I’rom will be taken private and Blackstone will own 55% of the company. The remaining 45% will be owned by I’rom founder and president Toyotaka Mori โ a combination of his current ownership and the assets of his family members.
Based on its market capitalization, the offer price values โโthe company at approximately ยฅ35 billion ($218 million).