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PPD sale finalized

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WILMINGTON, NC (WWAY) -- It's official. PPD has new owners. Pharmaceutical Product Development, Inc. today announced the completion of its acquisition by affiliates of The Carlyle Group and affiliates of Hellman & Friedman. The all-cash deal is worth about $3.9 billion.

PPD shareholders approved the deal at a special meeting last week. Under the agreement PPD shareholders will get $33.25 for each share of PPD common stock they own. As a result of the merger, PPD's common stock will no longer be listed for trading on NASDAQ.

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