CVET Stock Recent News

Clayton, Dubilier & Rice (CD&R), a private investment firm, and TPG Capital will acquire animal-health technology and services company Covetrus Inc (NASDAQ: CVET) for $21.00 per share, representing an enterprise value of approximately $4 billion. CD&R and its affiliates.

Animal health company Covetrus Inc. CVET, -0.20% said Wednesday it agreed to be taken private by Clayton, Dubilier & Rice (CD&R) and TPG Capital TPG, -0.90% in a deal valued at $4 billion. The two private equity firms agreed to pay $21 a share, which is $1.34 or 6.8% over its closing price of $19.66 a share on Tuesday and a 39% premium over its 30-day volume weighted average price per share as of the unaffected stock price as of May 13.

Private-equity firms CD&R and TPG Capital will pay $21 a share to acquire the veterinary services company.

CD&R and TPG offer to pay $21 a share in cash for Covetrus, which develops technologies and services for the animal health industry.

Covetrus (CVET) delivered earnings and revenue surprises of 8.70% and 0.32%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?