The company is mulling a proposed $6.4 billion sale to Avantor, according to a Philadelphia Business Journal report by John George.
VWR and Avantor share a years-long distribution and supply relationship, but it wasn’t until after another company unsuccessfully bid on VWR early this year that Avantor dissected the opportunity.
VWR has been open to a buyout deal since its $536 million 2014 IPO, ahead of which it also experimented with sale options. Ever since, Bank of America Merrill Lynch investment bankers have independently probed a possible deal with 16 companies and ultimately introduced one to VWR board members at January’s JP Morgan Healthcare Conference.
That deal, however, fell apart with a bid of $30 per share, and Avantor subsequently negotiated a buyout at $33.25 per share, representing a 17 percent premium on VWR’s stock price as of May 2.
Read more about the pending buyout in the Philadelphia Business Journal here.