$ABCM $DHR Danaher-Abcam deal approved by High Court of Justice of England and Wales
Abcam (ABCM) entered into a definitive agreement on August 26, 2023 relating to its proposed acquisition by Danaher Corporation (DHR) for $24 per share in cash, to be implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006. The circular in relation to the Scheme was published or made available to Scheme Shareholders on October 5, 2023. Abcam announced announce that the Court has today issued the Court Order sanctioning the Scheme. Closing of the Transaction will occur and the Scheme will become effective upon the Court Order being delivered to the Registrar of Companies, which is expected to occur on December 6, 2023, as previously announced. The last day of trading in Abcam ADSs on Nasdaq is expected to be December 5, 2023, with trading in Abcam ADSs on Nasdaq being suspended by 8.00 a.m. ET on December 6, 2023.
$ABCM, $ROST, $GAP, $LI and $KOLD are gapping up today.
https://www.chartmill.com/stock/stock-screener?v=3&f=s_gup,p_pg10,v1_50b500,exch_us&utm_source=Gap_Up&utm_medium=stocktwits&utm_campaign=screen
$ABCM $DHR Abcam Acquisition by Danaher Has Received All Identified Clearances; Transaction Expected to Close on December 6, 2023
https://www.stocktitan.net/news/ABCM/abcam-acquisition-by-danaher-has-received-all-identified-clearances-9m93598xwyet.html
$ABCM | Danaher/Abcam: Balanced Risk/Return
"Shareholders of Abcam approve scheme resolutions, with a $24/share cash offer from Danaher Corp expected to close mid-2024. Balanced risk/reward with a 3.21%/6.21% spread." - Jesus Rodriguez Aguilar
Key Points:
* Shareholders of Cambridge (UK)-based Abcam (ABCM US) followed Glass Lewis and ISS recommendations and approved (>84%) the scheme resolutions at both the Court Meeting and the GM.
* The $24/share cash offer represents 10x EV/Fwd Revenue, 25x EV/Fwd NTM EBITDA. Danaher Corp (DHR US) and Abcam have guided that the transaction is expected to close by mid-2024.
* Spread is 3.21%/6.21% (gross/annualised, assuming settlement by 30 May). From the current levels, I see a balanced risk/reward.
Read more: https://www.smartkarma.com/insights/danaher-abcam-balanced-risk-return
