Avantor 20.83M share Secondary priced at $42.00 » 20:5609/1309/13/21
The deal size was…
The deal size was increased to $875M from $750M. Goldman Sachs, Citi and BofA are acting as joint book running managers for the offering.
Avantor files to sell $750M in common stock » 06:1709/1309/13/21
Goldman Sachs & Co.…
Goldman Sachs & Co. LLC, Citigroup and BofA Securities are serving as the joint book-running managers and as representatives of the underwriters for the offering.
|Over a week ago|
Avantor added to tactical outperform list at Evercore ISI » 12:3809/0909/09/21
Evercore ISI analyst…
Evercore ISI analyst Vijay Kumar added Avantor to the firm's Tactical, Action, Positioning or "TAP" list as a Tactical Outperform selection following what he calls the company's "bullish" inaugural analyst day meeting. Given his view of the event, he is "a little confused as to the tepid stock" reaction given the view that Avantor is "now positioned as a 'Best in Class' EPS growth company," given guidance for 15% to 20% EPS CAGR, said Kumar. He has an Outperform rating and $42 price target on Avantor shares, which are fractionally lower to $41.71 in midday trading.
Avantor to host virtual investor day » 08:5509/0909/09/21
Avantor to host virtual investor day » 04:5509/0909/09/21
Avantor to host virtual investor day » 14:4409/0809/08/21
Avantor to acquire Masterflex business of Antylia Scientific for $2.9B » 06:3509/0709/07/21
Avantor announced that it…
Avantor announced that it has entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital. The all-cash transaction is valued at $2.9B, subject to final adjustments at closing. Given anticipated tax benefits from the transaction structure, the net purchase price is approximately $2.7B. Headquartered in Vernon Hills, Illinois, Masterflex is a global manufacturer of peristaltic pumps and aseptic single-use fluid transfer technologies with estimated 2022 revenues of approximately $300M. The transaction is expected to enhance Avantor's revenue growth and margin profile and be accretive to adjusted EPS in year one post-acquisition. Avantor has a full debt financing commitment for the transaction, and retains the flexibility to alternately obtain debt or equity financing in the market in order to achieve its targeted capital structure. The transaction is expected to be completed in Q4 and is subject to customary closing conditions, including receipt of applicable regulatory approvals.
Avantor announces investment in global hydration capabilities » 08:2708/3108/31/21
Avantor announced a…
Avantor announced a multi-year investment in its global hydration capabilities. The Company has recently completed a major expansion of its facility in Gliwice, Poland, and has begun a multi-stage expansion of its facility in Aurora, Ohio, USA, that will be completed by mid-2022. With the global demand for biologics increasing, the biopharmaceutical industry is seeking to reduce the cost and time to manufacture therapies, including monoclonal antibodies, or mAbs, and vaccines at scale. Outsourcing the preparation of certain materials, such as buffers, used to produce biologics can help biopharma manufacturers drive greater workflow efficiencies, eliminate unnecessary steps, and increase speed to market of new and existing therapies. Projects in Gliwice and Aurora include the installation of equipment that provides enhanced capabilities and capacity to formulate and fill WFI-based hydration solutions.
Avantor resumed with an Outperform at Raymond James » 08:0008/3008/30/21
Raymond James analyst…
Raymond James analyst Andrew Cooper resumed coverage of Avantor with an Outperform rating and $45 price target. Avantor's COVID-19 tailwind "is not particularly outsized and at least a portion should prove sustainable," said Cooper, who sees the company being poised for "solid mid-single digit, if not mid- to high-single digit," normalized organic revenue growth and faster growth in profits.
|Over a month ago|
Avantor participates in a conference call with JPMorgan » 10:2508/0608/06/21
Conference call with CEO…
Conference call with CEO Stubblefield will be held on August 6 at 11 am hosted by JPMorgan.