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Komfie Manalo, Opalesque Asia:

Alternative investment manager Pamplona Capital Management has completed its acquisition of PAREXEL International Corporation, a global biopharmaceutical services company. Pamplona acquired all outstanding shares of PAREXEL for $88.10 per share in cash.

The transaction was approved overwhelmingly by stockholders on September 15, with more than 98% of votes cast in favor. PAREXEL stock stopped trading at the close of business last Friday.

"This acquisition will better position PAREXEL for growth and success," said Josef von Rickenbach, CEO of PAREXEL. "Pamplona is an ideal partner, with deep healthcare expertise and a strong track record of investing in market-leading companies in the healthcare sector. They share our confidence in the road ahead. Working together, we will lead PAREXEL to even greater achievement."

Under the terms of the agreement, von Rickenbach will continue to serve as CEO. Dr. Jeremy Gelber, Partner of Pamplona Capital Management, will serve on the Board of Directors.

"We are excited that PAREXEL is joining Pamplona's family of healthcare companies," said Gelber. "PAREXEL has built a leadership position in the large and growing biopharmaceutical services market and has established an outstanding reputation for innovation and scientific excellence. We at P......................

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