Oct 17 (Reuters) - Pactera Technology International Ltd, China's largest technology outsourcing company, agreedto be taken private by a consortium led by Blackstone Group LP for $625 million, after a month of wrangling over thesale price.
Pactera agreed to an offer price of $7.30 per Americandepositary share (ADS), an 11.6 percent premium to the stock's$6.54 closing price on Wednesday.
The buyers, which include Pactera's management, initiallyoffered $7.50 per ADS in May but cut that to $7.00 last month,citing the company's weakening financial performance.
Pactera gave no reason for the latest price revision.
Bank of America Merrill Lynch, Citigroup Global Markets AsiaLimited and HSBC Bank USA will provide debt financing for thedeal.
Beijing-based Pactera, formed last year through a merger ofHiSoft Technology International Ltd and VanceInfo TechnologiesInc, offers technology outsourcing and consulting services tocompanies across the world.
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