Scherer to Go Private: R. P. Scherer...

Scherer to Go Private: R. P. Scherer Corp., a leading maker of gelatin capsules for drugs, medicines and vitamins, said it will go private in a leveraged buyout. The company did not price the transaction but sources close to Scherer valued it at $440 million. Scherer will be acquired by RPS Corp., a vehicle formed by investment bank Shearson Lehman Hutton Holdings Inc. Scherer, based in Troy, Mich., said it decided Sept. 30 to seek a buyer for the company. Sealed bids were opened last Wednesday and negotiations with Shearson led to Monday’s deal. Scherer has about 4,400 employees in 22 facilities in 13 countries.