A preliminary proxy statement filed by Wilmington-based PPD, Inc., with the Securities and Exchange Commission (SEC) on October 14 provides a detailed narrative of the exploration and negotiation that resulted in the successful bid by The Carlyle Group and Hellman & Friedman to acquire the clinical research organization for a cash payment of $3.87 billion. It also documents that preliminary talks about selling the company started in early 2009. It also reveals that in the early days of PPD’s “go shop” period another company has expressed interest in purchasing PPD, although no definite offer has emerged. Morgan Stanley is charged with contacting other possible bidders during this 30-day period, which ends at midnight November 1.
