Largest shareholder in UDG Healthcare hits out at ‘opportunistic’ takeover offer

Allianz GI says Clayton, Dubilier & Rice’s offer is ‘opportunistic’ and ‘significantly undervalues’ the business

Brendan McAtamney, chief executive of UDG Healthcare which earlier this month announced it had accepted the takeover offer from CD&R. Picture: Fergal Phillips

The largest shareholder in UDG Healthcare, the Dublin-headquartered healthcare services provider, has said it may reject the £2.6 billion (€3 billion) takeover offer made for the company by Clayton, Dubilier & Rice (CD&R) despite the deal being recommended by the board of UDG.

Allianz GI, a global investment firm which holds an 8.6 per cent stake in UDG, described the takeover offer from CD&R, the US private equity firm, as “opportunistic”. Liam FitzGerald, UDG’s former ...