Dental products maker Patterson to go private in $4.1 bln deal

Reuters
11 Dec 2024
UPDATE 1-Dental products maker Patterson to go private in $4.1 bln deal

Adds details on the deal in paragraph 2, background in paragraph 3 and share move in paragraph 4

Dec 11 (Reuters) - Patterson Companies PDCO.O said on Wednesday it had agreed to be acquired by health investment firm Patient Square Capital for about $4.1 billion.

The go-private deal for $31.35 per share represents a premium of 35.7% to the stock's last close.

Earlier this month, Patterson said it was evaluating strategic alternatives including a sale or merger after lowering its annual profit forecast.

Shares of the company, down more than 18% this year, were halted during premarket hours.

(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar and Sriraj Kalluvila)

((Christy.Santhosh@thomsonreuters.com;))

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