Lehigh Valley

Center Valley based Avantor enters into definitive agreement with VWR

CENTER VALLEY, Pa. - Center Valley based  Avantor and VWR  announced that they have entered into a definitive agreement under which Avantor will acquire VWR for $33.25 in cash per share of VWR common stock. The deal is valued at $6.4 billion.

According to a press release, Avantor is a global supplier of ultra-high-purity materials for the life sciences and advanced technology industries. VWR is a major global independent provider of product, supply chain, and service solutions to laboratory and production customers,

The purchase price represents an approximate 17 percent premium to the unaffected closing stock price on May, 2, the day prior to the start of market speculation regarding a potential sale of VWR, according to the release.

The purchase price also represents an approximate 20 percent premium to the 30 trading day volume weighted average price and an approximate 24 percent premium to the 90 trading day VWAP of VWR common stock as of May 2, 2017, according to the press release.

According to the release,Goldman Sachs, Jefferies LLC, and Barclays are acting as financial advisors to Avantor, and Simpson Thacher & Bartlett LLP is serving as legal advisor to Avantor. BofA Merrill Lynch is acting as exclusive financial advisor to VWR, and Kirkland & Ellis LLP is acting as legal advisor. Fully committed financing of the acquisition has been provided by Goldman Sachs, Barclays, and Jefferies LLC. 


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