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£48.4m Placing by Dechra Pharmaceuticals plc


Travers Smith corporate partner Richard Spedding and senior counsel Dan McNamee have advised Investec, as sole bookrunner, underwriter and financial adviser, on the placing by Dechra Pharmaceuticals plc that was made to part fund the conditional acquisition of the entire share capital of Putney, Inc, a leading developer of generic companion animal pharmaceuticals in the US. 

The total consideration payable for Putney amounts to £139 million. The Placing Shares were placed at a price of 1,100 pence, being a 5.4 per cent. discount to the closing mid-market price per Ordinary Share on 14 March 2016.

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