Cinven to Buy Out German Lab Firm Synlab for $1.3 Billion

Cinven agreed to buy out Synlab AG for about €1.27 billion ($1.3 billion) two years after listing the German laboratory operator, which has been suffering from reduced demand for its testing facilities.

Investors will get €10 a share in cash, Cinven’s Ephios Luxembourg unit said Friday. Cinven submitted a non-binding expression of interest in March to acquire Frankfurt-listed Synlab at that price, confirming an earlier Bloomberg News report. The bid is 42% higher than the closing price on March 10, before Cinven’s previous announcement.

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