Catalent (NYSE:CTLT) has agreed to take over gene therapy developer Paragon Bioservices for $1.2B in cash to be funded with a $650M term loan and $650M of newly issued convertible preferred stock. The transaction should close later this quarter.
The company expects the acquisition to be accretive to non-GAAP EPS in the second full year post-close and significantly accretive thereafter.
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