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LSR goes private in Lion Holdings takeover

01-Dec-2009

US CRO Life Science Research has become a private company with the completion of its acquisition by Lion Holdings, an investment vehicle owner by CEO Andrew Baker.

The firm, which was set up to move Huntingdon Life Sciences’ financial centre to the US, delisted from the New York Stock Exchange on November 25 after shareholders approved Lion’s $8.50 per share buyout.

Like many preclinical contract research organisations (CRO), LSR has had a difficult 2009 with progressive quarterly reports dominated by falling revenues and operating income.