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DewDiligence

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DewDiligence

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Re: DewDiligence post# 228527

Thursday, 04/15/2021 9:09:24 AM

Thursday, April 15, 2021 9:09:24 AM

Post# of 257375
TMO acquires PPD for $47.50/sh cash—a 24% premium to Tuesday’s “unaffected” closing price and a 35% premium to PPD’s Feb 20 IPO price:

https://finance.yahoo.com/news/thermo-fisher-scientific-acquire-ppd-110000105.html

Including the assumption of debt, the deal value is $20.9B.

TMO is a classic roll-up company, so the usual caveats for such business models apply.

PPD (then traded as PPDI) went private in 2011 (#msg-67625255) and then re-IPOd in Feb 2020 (#msg-153676503).

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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