=PAREXEL (PRXL) to be acquired by Pamplona Capital Management for $88.10/share or approx. $5.0 billion

• Parexel (Nasdaq: PRXL) said it would be acquired by Pamplona Capital Management LLP, which has offices in Boston, New York and London.
• Parexel has been implementing a major restructuring plan in an effort to cut costs and streamline its operations. The company quietly disclosed in a May 4 federal filing that it would terminate more than 1,000 positions globally.
• Parexel currently has around 19,600 employees globally.
• Pamplona Capital Management LLP was founded in 2004 and is based in London.
• Dr. Alexander Mark Knaster, also known as Alex, Ph.D., was born in Moscow in 1959.  He founded Pamplona and serves as its Chairman and CEO. 
• www.pamplonafunds.com
• Update Jul 2, 2021: Parexel acquired by the Swedish investment firm EQT Private Equity and Goldman Sachs Asset Management for $8.5 billion.

  

PAREXEL confirms agreement to be acquired by Pamplona Capital Management for $88.10/share in cash, or approximately $5 bln:

"Today's announcement is the culmination of a comprehensive review of the opportunities available to the Company, including interest solicited and received from multiple parties with the assistance of independent financial and legal advisors. Having considered these opportunities, the PAREXEL Board of Directors unanimously determined that this all-cash transaction and the significant, certain value it provides is in the best interest of PAREXEL shareholders, as well as our company," said Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL.

• The transaction is expected to close early in the fourth quarter of 2017, subject to the approval of a majority of PAREXEL shareholders and the satisfaction of other customary closing conditions.

=Parexel International (PRXL) reported earnings on Wed 3 May 2017 (a/h)

WALTHAM, Mass. (AP) _ Parexel International Corp. (PRXL) on Wednesday reported fiscal third-quarter profit of $17.8 million.

The Waltham, Massachusetts-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring costs, were 74 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The pharmaceutical research contractor posted revenue of $605.2 million in the period. Its adjusted revenue was $529.3 million, matching Street forecasts.

For the current quarter ending in June, Parexel expects its per-share earnings to range from 87 cents to $1.01.

The company said it expects revenue in the range of $531 million to $545 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $537.6 million.

Parexel expects full-year earnings in the range of $3.17 to $3.31 per share, with revenue ranging from $2.09 billion to $2.11 billion.

Parexel shares have dropped almost 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.54, a rise of roughly 10 percent in the last 12 months.

=PAREXEL (PRXL) reported earnings on Thur 2 Feb 2017 (b/o)

PAREXEL beats by $0.01, reports revs in-line; guides FY17 EPS below consensus, revs below consensus :

• Reports Q2 (Dec) earnings of $0.85 per share, $0.01 better than the Capital IQ Consensus of $0.84; revenues rose 3.1% year/year to $534.4 mln vs the $536.96 mln Capital IQ Consensus.
  • Gross new business of $971 million, cancellations of $266 million
  • Backlog increased 8.4% year-over-year to $5.94 billion
  • Net book-to-bill of 1.32
• Co issues downside guidance for FY17, sees EPS of $3.15-3.43 vs. $3.74 Capital IQ Consensus Estimate, and down from $3.71-4.05 prior; sees FY17 revs of $2.08-2.12 bln vs. $2.15 bln Capital IQ Consensus Estimate, down from $2.15-2.19 bln prior
  • Co expects recent strong new business awards to contribute less near-term revenue than it had anticipated, thus they are lowering forecast for Fiscal Year 2017  revenue and diluted EPS
  • The guidance takes into account a number of factors, including recent foreign currency exchange rates, tax rates, the acquisitions of ExecuPharm and The Medical Affairs Company, the accelerated share repurchase program, the new restructuring program, and the Company's updated overall outlook. The impact of purchase accounting related to The Medical Affairs Company has not been included.

=Parexel (PRXL) reported earnings on Wed 26 Oct 2016 (a/h)

WALTHAM, Mass. (AP) _ Parexel International Corp. (PRXL) on Wednesday reported fiscal first-quarter earnings of $40.2 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 75 cents. Earnings, adjusted for non-recurring costs, were 76 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The pharmaceutical research contractor posted revenue of $500.9 million in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $525.5 million.

For the current quarter ending in January, Parexel expects its per-share earnings to range from 76 cents to 90 cents.

The company said it expects revenue in the range of $535 million to $550 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $541.4 million.

Parexel expects full-year earnings in the range of $3.71 to $4.05 per share, with revenue ranging from $2.15 billion to $2.19 billion.

Parexel shares have declined roughly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.80, a rise of nearly 3 percent in the last 12 months.