PPD shareholders say yes to deal

Shareholders of PPD have approved the company's acquisition for $3.9 billion by two private equity firms.

Wilmington-based PPD, one of the world's largest drug-research companies, announced that 96.4 percent of the shares voted at a shareholders meeting today were in favor of the acquisition by The Carlyle Group and Hellman & Friedman.

The deal, announced in October, calls for the private equity firms to pay $33.25 per share for the business -- a 30 percent premium over where the shares were trading pre-deal.

PPD has about 11,000 employees worldwide, including roughly 1,400 workers in the Triangle. The CRO, or contract research organization, helps pharmaceutical and biotechnology companies test experimental drugs. Its revenue totaled $1.47 billion last year.