PPD Explores Sale

[kermit]

The WSJ is reporting that PPD is investigating selling the company:

http://finance.yahoo.com/news/Ahead-of-the-Bell-Report-says-apf-46335924.html?x=0&.v=1

[DanRNC]

Most likely the only other CRO that could afford to buy PPD is Quintiles.

[kermit]

Looks like private equity investors (rather than other CROs) are kicking the PPD tires:

http://www.bizjournals.com/triangle/blog/2011/08/carlyle-group-interested-in-ppd.html?ed=2011-08-16&s=article_du&ana=e_du_pap

[NCMike1981]

Could definately be a blow to downtown...

[kermit]

Private equity purchased PPD which is probably good news for the city (this should preserve more of a local presence than a purchase by a competitor would have).

The Star News is however hot upbeat about prospects: http://www.starnewsonline.com/article/20111003/ARTICLES/111009958/1177?Title=Update-PPD-sale-good-for-shareholders-not-necessarily-for-city-finance-expert-says