Albany Molecular To Be Acquired By Carlyle Group And GTCR For $21.75/shr

(RTTNews) - Albany Molecular Research Inc. (AMRI) said it agreed to be acquired by affiliates of The Carlyle Group and GTCR LLC for $21.75 per share in cash.

This represents a 42% premium to the 60-day weighted average closing stock price leading up to April 5, 2017, the last trading day prior to public rumors in the press regarding a potential sale process.

The agreement was unanimously approved by AMRI's Board of Directors which has recommended that the shareholders vote in favor of the transaction.

The transaction will be financed through a combination of debt and equity financing. Carlyle and GTCR have received debt financing commitments to finance the transaction.