(Reuters) – Shares in Instem Plc soared 40% on Wednesday after the British life sciences software firm agreed to a take-private deal with French private equity firm Archimed SAS for 203 million pounds ($256.5 million).
The deal will help Instem expand its reach in the healthcare IT sector and use the capital for acquisitions, according to a joint statement, which sent shares to 822.5 pence in morning trade.
Under the terms of the deal with Ichor Management, a company controlled by Archimed, each Instem shareholder will get 833 pence in cash, representing a premium of 41% to its last close.
($1 = 0.7916 pounds)
(Reporting by Prerna Bedi in Bengaluru; Editing by Sonia Cheema)
