Patterson Companies Enters into Merger Agreement with Patient Square Capital

Patterson Companies, Inc. (NASDAQ: PDCO) announced on December 10, 2024, that it has entered into an Agreement and Plan of Merger with Paradigm Parent, LLC under which Patterson will be acquired by Patient Square Capital. Under the terms of the merger agreement, each share of common stock of Patterson will be converted into the right to receive $31.35 in cash. This represents a significant premium to Patterson’s market value.

The merger agreement, subject to customary closing conditions, including shareholder approval, regulatory approvals, and other closing conditions, is expected to close in the fourth quarter of Patterson’s fiscal 2025. Following the completion of the merger, Patterson will become a privately held company, and its common stock will be delisted from the NASDAQ Global Select Market.

The Board of Directors of Patterson unanimously approved the transaction. The merger agreement also includes a 40-day “go-shop” period allowing Patterson to solicit alternative acquisition proposals from third parties.

The transaction will be financed through committed equity financing provided by Patient Square Equity Partners, LP, as well as committed debt financing led by Citi, UBS Investment Bank, and Wells Fargo Bank N.A. Patterson will be maintaining its headquarters in St. Paul, Minnesota, post-closing.

The press release issued by Patterson Companies regarding the merger can be found as Exhibit 99 to the 8-K filing. For more details about the merger, shareholders are encouraged to refer to the definitive proxy statement and other relevant documents that will be filed with the Securities and Exchange Commission (SEC).

After the merger is completed, the shares of Patterson will be deregistered under the Securities Exchange Act of 1934. Investors are advised to refer to the full text of the Merger Agreement filed as an exhibit with the 8-K filing for complete details on the terms of the merger.

Following the news of the merger, Patterson Companies issued a press release on December 11, 2024, making the merger announcement public.

For further information about the deal, investors and shareholders are encouraged to refer to the materials that Patterson will file with the SEC regarding the merger. Shareholders are advised to read the definitive proxy statement and other relevant materials when they become available for a thorough understanding of the merger details and its implications.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Patterson Companies’s 8K filing here.

Patterson Companies Company Profile

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.