12:35 PM EDT, 10/21/2024 (MT Newswires) -- Catalent ( CTLT ) Chief Executive Alessandro Maselli said Monday that the company will continue to operate as a contract development and manufacturing organization, or CDMO, after its acquisition by Novo Nordisk's ( NVO ) controlling shareholder Novo Holdings.

In an open letter to customers Monday, Maselli said he would continue as CEO and president of Catalent ( CTLT ) as he sought to reassure customers, saying Catalent ( CTLT ) will continue to meet its existing commitments while protecting customers' proprietary production and ingredient information after the deal closes.

Novo Holdings announced plans to buy Catalent ( CTLT ) in February, with the deal valuing the target company at $63.50 per share.

The buyout is expected to close before the end of 2024, subject to regulatory and shareholder approvals and other customary conditions, the companies have said.

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