EQT to Buy Vet Firm Dechra for $5.6 Billion After Price Cut (3)

EQT ABagreed to buy UK veterinary drugmaker Dechra Pharmaceuticals Plc for a lowered price of £4.46 billion ($5.6 billion) in what is still the biggest European take-private this year.

The Swedish buyout firm will pay Dechra investors 3,875 pence a share under terms of the recommended cash offer, according to a statement on Friday that confirmed a Bloomberg News report. The parties agreed to reduce the previously discussed price by 4.8% after the UK company made a profit warning in the middle of takeover talks.

EQT will own 74% of Dechra upon completion of the deal, with its ...