Charles River Labs Pays $1.6 Billion for WuXi PharmaTech

In a blockbuster announcement, Charles River Laboratories said it will pay $1.6 billion to acquire WuXi PharmaTech (药明康德), the most visible of China’s indigenous pre-clinical CRO companies. The transaction will extend WuXi’s services to include first-in-human testing. WuXi shareholders will receive $21.25 per ADS in a combination of $10 in cash and the remainder in Charles River stock, a 38% premium to Friday’s closing price. More details... Stock Symbols: (NYSE: CRL) (NYSE: WX)