Carlyle and Hellman & Friedman agreed to pay $33.25 per PPD share in cash, an almost 30 percent premium over the Wilmington, North Carolina–based company’s September 30 closing price.
PPD fielded offers from rival bidders, including Blackstone Group and KKR before entering into exclusive talks with Carlyle and Hellman & Friedman in August, BusinessWeek reports.
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