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Evotec acquiring Aptuit

July 31, 2017 10:51 PM UTC

Evotec AG (Xetra:EVT) is acquiring fellow drug discovery services company Aptuit LLC (Greenwich, Conn) for $300 million. Evotec said it would finance the acquisition, which is expected to close in 3Q17, through a €140 million ($164 million) debt facility and with cash on hand.

Evotec gains 750 employees and manufacturing sites in Verona, Italy; Basel, Switzerland; and Oxford, U.K. Evotec said that Aptuit reported 2016 revenues of €88 million ($92.5 million); Evotec reported €164.5 million ($173 million) over the same period...

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