BOSTON, Feb. 15 /PRNewswire-FirstCall/ -- PAREXEL International Corporation ("PAREXEL") (Nasdaq: PRXL) notes the recent movement in the share price of ClinPhone plc ("ClinPhone" or the "Company"). Under the United Kingdom Takeover Code, PAREXEL confirms that it has made a preliminary proposal to the Board of ClinPhone in relation to a potential offer by PAREXEL for the entire issued and to be issued share capital of ClinPhone. While that preliminary proposal was rejected by the Board of ClinPhone, PAREXEL is currently evaluating its options in relation to ClinPhone. However, there can be no certainty that an offer for ClinPhone will be forthcoming.
Any offer, if made, is likely to be solely in cash. A further announcement will be made in due course.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of the Company, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of the Company, they will be deemed to be a single person for the purpose of Rule 8.3.
|SOURCE PAREXEL International Corporation|
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