Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (4610)	9/8/2021 12:32:55 PM
From: richardred	Respond to of 7120

Perrigo to Acquire Leading Consumer Self-Care Company, HRA Pharma - Transaction would complete Perrigo's three-year transformation plan to become a global leader in consumer self-care; positions Perrigo to deliver top-tier net sales growth and double-digit EPS growth, with significant margin expansion. - Would add HRA's focused portfolio of market leading, high growth OTC self-care brands in blister care, women's health and scar care to Perrigo's expert direct go-to-market platform. - Acquisition of HRA for €1.8 billion, or approximately $2.1 billion(1), in cash would represent an enterprise value to expected 2022 adjusted EBITDA multiple of 18x. Adding anticipated synergies expected by 2023 on a pro forma basis, purchase price would represent an adjusted EBITDA multiple of less than 14x. - Would significantly strengthen Perrigo's global footprint by adding scale in key European markets. - Overlap with existing geographies expected to provide significant and actionable operational synergies. - Transaction is anticipated to accelerate results for both Consumer Self-Care segments and be immediately accretive to Perrigo, adding approximately €400 million in net sales and approximately $1.00 in adjusted EPS in FY 2023. - HRA's seasoned leadership team will remain in place to minimize any business disruption from integration. - Conference call and webcast scheduled for today, September 8, 2021, at 8:30 A.M. EDT to discuss transaction. (1) Assumes euro/dollar exchange rate of €1.00/$1.19 as of September 7, 2021. investor.perrigo.com