NASDAQ:PDCO - Nasdaq - US7033951036 - Common Stock - Currency: USD
Wall Street banks are stuck with $2.35 billion in debt for the buyout of Patterson Cos., the second time lenders have been on the hook for a big financing package since the Trump administration triggered a global trade war.
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Banks are lining up approximately $2.35 billion in debt to support the proposed leveraged buyout of Patterson Companies Inc., a supplier of everything from dental equipment to drugs for pets and livestock.
Over the past six months, Patterson Companies has been a great trade, beating the S&P 500 by 15.5%. Its stock price has climbed to $31.03, representing a healthy 27.7% increase. This performance may have investors wondering how to approach the situation.
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Patient Square Capital agrees to buy Patterson Companies for $4.1 billion. Analysts predict minimal regulatory hurdles and a strong bid unlikely to face competition.
The company agreed to be acquired by Patient Square Capital in a deal that could reinvigorate the beleaguered dental space.