On June 29, 2021, UDG Healthcare announced that Clayton, Dubilier & Rice (CD&R) has raised its offer to buy the London-listed firm to 2.76 billion pounds ($3.83 billion). The Company said the bid of 1,080 pence per share in cash is CD&R’s final offer and the Ireland-based Company’s board recommended it. CD&R’s initial offer of 1,023 pence per share in cash faced opposition from UDG’s top shareholder Allianz Global Investors, prompting an announcement that the private equity firm could raise its bid. In addition, the Company stated that Allianz said on June 28, 2021, it would back an offer of 1,080 pence apiece.