In this paper we will discuss about the recent business deal made by TPG Capital, a private investment organization. The company announced in February 2008 that it had owned Axcan Pharma Inc., a pharmaceutical company, for 23.35 million dollars.
This deal will enable TPG to solidify its position further in the global private investment market. After the completion of the whole transaction, Axcan’s common share will not be listed on NASDAQ stock exchange. In February 2008, TPG Capital announced its recent business deal publicly. The company owned Axcan Pharma Inc. for 23.35 million dollar.
TPG Capital, established in 1992, is a premier private investment organization with asset value of over 35 billion dollar. It has several offices in Hong Kong, Minneapolis, San Francisco, Melbourne, New York, Fort Worth, Mumbai, Singapore, London, Tokyo and Moscow.
The company has a huge experience in those private investments, which are executed through spinouts, leveraged buyouts, restructurings, recapitalizations and joint ventures.
Axcan Pharma Inc. is a multinational company, which mainly focuses on gastroenterology. It develops and as well as markets a wide range of pharmaceutical products to treat several gastrointestinal diseases like, irritable bowel syndrome, inflammatory bowel disorder, cholestatic liver diseases, disorders regarding pancreatic insufficiency etc. The company’s products are marketed in North America and Europe by its own efficient sales forces and through commercial collaborations with many other pharmaceutical markets across the globe.
Terms & Conditions:
The shareholders of Axcan will be given 23.35 dollars per share. The payment will be done in cash.
The common stock of Axcan will not be traded on NASDAQ as well as Toronto Stock Exchange after the completion of the deal.
Computershare Investor Services will be appointed as a paying agent.
Objective of the Deal:
This deal will help TPG Capital to grow further by using Axcan Pharma Inc.’s huge trading experience.