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Clayton, Dubilier & Rice and TPG (TPG) offered to buy Covetrus (CVET) for $21 a share in cash

  • May 23, 2022


StockCovetrus, Inc.SymbolCVET
Date Announced05/20/2022Source Bloomberg
TypeUnsolicited BidAcquiring Company/Person Clayton, Dubilier & Rice
Date of Confirmation: 05/25/2022Price at Confirmation: $19.66
Potential Profit: -0.25%Annualized Profit: -18.52%

Clayton, Dubilier & Rice, and TPG (TPG) offered to buy all of the outstanding shares of animal-health technology and services provider Covetrus Inc. (CVET) for $21 a share in cash.


May 25, 2022: Covetrus (CVET) announced that it has entered into a definitive agreement pursuant to which funds affiliated with Clayton, Dubilier & Rice, a global private investment firm, and TPG Capital, the private equity platform of global alternative asset management firm TPG , will acquire all outstanding shares of Covetrus common stock not already owned by affiliates of CD&R for $21.00 per share in cash, representing an enterprise value of approximately $4 billion.

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