Reckitt Takeover Not Impossible, Captured in Valuation: Exane
2015-02-03 08:59:33.420 GMT
By Heather Burke
(Bloomberg) -- Exane says it isn’t impossible Reckitt could
get a bid from either a big pharmaceutical or consumer co.
although such probability is “more than in the price,”
according to note.
* Sees offer as unlikely as co. is big, very efficient, has
significant mid-term challenges in its Health unit
* Consumer health care industry is fragmented, consolidating
* Significant, quality acquisition targets for Reckitt
“scarce”
* Co. would probably have to “lower its quality bar and
raise its price bar”
* Co. would probably have to “lower its quality bar and
raise its price bar”</li></ul>
* Reiterates underperform, PT 4,700p
* Next catalyst: 2014 earnings Feb. 11
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To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Jurjen van de Pol
2015-02-03 08:59:33.420 GMT
By Heather Burke
(Bloomberg) -- Exane says it isn’t impossible Reckitt could
get a bid from either a big pharmaceutical or consumer co.
although such probability is “more than in the price,”
according to note.
* Sees offer as unlikely as co. is big, very efficient, has
significant mid-term challenges in its Health unit
* Consumer health care industry is fragmented, consolidating
* Significant, quality acquisition targets for Reckitt
“scarce”
* Co. would probably have to “lower its quality bar and
raise its price bar”
* Co. would probably have to “lower its quality bar and
raise its price bar”</li></ul>
* Reiterates underperform, PT 4,700p
* Next catalyst: 2014 earnings Feb. 11
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Heather Burke in London at +44-20-3525-2044 or
hburke2@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Jurjen van de Pol