PRA International taken private in acquisition by Genstar

By Lisa Kerner

Charlotte, N.C., Dec. 13 - Genstar Capital, LLC completed its previously announced $797 million acquisition of PRA International.

As a result, PRA's common stock will be delisted from the Nasdaq Market and trading was suspended after the close of the market on Thursday.

PRA stockholders approved the $30.50-per-share transaction on Wednesday.

"Our new status as a private company will enable our entire work force to be even more focused on attaining our common goal to provide outstanding clinical research trials for our clients," PRA chief executive officer Terrance J. Bieker said in a company news release.

PRA is a Reston, Va., clinical development company.

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