APM Human Services' takeover by US pvt equity firm will not be affected by earnings drag - Morningstar

APM Human Services International

24/07/2024 23:54

** Analysts at Morningstar don't expect decline of FY24
earnings for Australia's APM Human Services  APM.AX  to affect
its takeover by U.S. private equity firm Madison Dearborn
Partners
    ** APM reported on Wednesday that both its top and
bottom-line numbers had fallen, compared to a year ago
    ** Morningstar expects little resistance to the remaining
hurdles for the takeover to be completed; buyout completion eyed
in October
    ** Higher interloping bids are unlikely, given that deal
prevents APM from providing due diligence access or soliciting
competing bids from other potential buyers during the
exclusivity period - Morningstar
    ** All four analysts rate the stock "hold"; their median PT
is A$1.51 – LSEG data
    ** Stock up 14.7% this year, as of last close
    
($1 = 1.5205 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))