Patterson Companies Inc (PDCO) News & EventsPDCOPatterson Companies Inc

Patterson Companies reports Q3 EPS 43c, consensus 62c

Reports Q3 revenue $1.572B, consensus $1.63B. "As we continue to progress toward closing our transaction with Patient Square Capital, our team remains focused on executing our strategy," said Don Zurbay, President and CEO of Patterson Companies. "While our third quarter results were impacted by challenging market conditions, we remain confident in the long-term strength of Patterson's value proposition as an indispensable partner to customers across the durable and attractive dental and animal health end markets."

Patterson Companies announces expiration of 40-day "go-shop" period

Patterson Companies announced the expiration of the 40-day "go-shop" period under the terms of the previously announced definitive merger agreement, pursuant to which Patient Square Capital, a dedicated health care investment firm, will acquire Patterson for $31.35 per share, in an all-cash transaction valued at approximately $4.1B, including the refinancing of Patterson's receivables facilities. The "go-shop" period expired at 11:59 p.m. on January 19. Pursuant to the merger agreement, Patterson and its representatives had the right to actively solicit and consider alternative acquisition proposals from third parties during the "go-shop" period. Patterson did not receive any alternative acquisition proposals from any third party during the "go-shop" period. The transaction is expected to close in April, subject to the satisfaction of customary closing conditions, including approval by Patterson's shareholders and U.S. antitrust clearance. Upon completion of the transaction, Patterson will become a privately held company, and its common stock will no longer be traded on the NASDAQ Global Select Market.