In the wake of the campaign against Huntingdon Life Sciences, an obvious question has been whether or not the relatively unfavorable political climate in the United Kingdom for animal testing firms would drive other companies to seek shelter abroad. And, what do you know, Inveresk Research recently filed a preliminary prospectus for a $150 million initial public offering on an unspecified American stock exchange.
HLS, of course, moved to an American stock exchange under a new name in order to provide more anonymity to its investors than was possible under British law. Inveresk Research bought an American firm, Clintrials, in February 2001 for 78 million pounds. At that time, Inveresk said it had no plans on moving its headquarters or to seek a stock listing
Inveresk has had some run-ins with animal rights activists, but not nearly to the extent that HLS is. Clearly, though, the pressure exerted on HS share holders almost certainly played some role in the company’s decision to seek a stock listing in the United States rather than in the United Kingdom.
Source:
Inveresk Research plans flotation on US market. Robert Powell, The Herald (Glasgow), April 3, 2002.