Dental supplier Patterson Companies has received shareholder approval for its $31.35 per share acquisition by Patient Square Capital, marking a significant shift as the company prepares to go private.
Patterson Companies Inc, a dental distributor serving U.S. and Canada markets, announced that its shareholders have approved the company’s acquisition by Patient Square Capital, a health care-focused investment firm.
The approval was secured during a special shareholder meeting and paves the way for Patterson to become a privately held company. Under the terms of the merger agreement dated December 10, 2024, shareholders will receive $31.35 in cash per share of common stock. The transaction is expected to close later this month, pending customary closing conditions.
Upon completion, Patterson’s common stock will no longer be traded on the NASDAQ Global Select Market.
Don Zurbay, Patterson’s President and CEO, said, “I would like to express my gratitude to the Patterson shareholders for their support today, and throughout this transaction process. The Patterson team is excited about this partnership with Patient Square Capital and beginning our next chapter as a private company. We believe this collaboration will enable us to continue to invest in serving our customers and our business, accelerate our growth, and be well-positioned to achieve our strategic priorities.”
The final voting results will be filed with the Securities and Exchange Commission in a Form 8-K.
Photo: ID 58780165 | Acquisition © Kritchanut | Dreamstime.com
