Veterinary firm Dechra Pharmaceuticals Plc said it would buy the Netherlands-based AST Farma and Le Vet for a total of 340 million euros ($422.1 million) in a cash-and-share deal to boost its presence in Europe.
Dechra said the acquisition is a rare opportunity to strengthen its EU segment in all the major European countries in which it operates.
The firm said in a statement that it would pay about 75 percent in cash and 25 percent in new Dechra shares to complete the acquisition.
Dechra plans to raise about 100 million pounds ($142.5 million) through a placing of 5.1 million new ordinary shares at 2,050 pence each with institutional investors to fund the deal.