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HomeWorld newsBlackstone will acquire a Japanese drug research company in a management buyout

Blackstone will acquire a Japanese drug research company in a management buyout

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 ¥2,800 per share – a premium of about 50% to Monday’s closing price of ¥1,873, 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 – a combination of his current ownership and the assets of his family members.

Based on its market capitalization, the offer price values ​​the company at approximately ¥35 billion ($218 million).

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