CVC Capital Reportedly Eyeing Perrigo Takeover to Combine with Cooper Consumer Health
PRGO sits 64% above its 52-week low of $9.225.
Summary
Betaville reports speculation that CVC Capital may be evaluating a purchase of Perrigo to combine it with its Cooper Consumer Health business. This follows earlier reports of interest from Stada Arzneimittel and CapVest. Shares rose 4% on Friday, reflecting the market's reaction to the renewed takeover chatter. With a $2 billion market cap and 16% short interest, a credible bid could trigger a significant squeeze. The company reaffirmed its full-year adjusted EPS outlook in August, providing a stable base for any potential acquirer.
At the time of this announcement, PRGO was trading at $15.09 on NYSE in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $9.23 to $22.02. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.