Asaleo Care logo

AHY - Asaleo Care News Story

A$1.43 -0.0  -1.0%

Last Trade - 5:10am

Consumer Defensives
Mid Cap
Market Cap £438.2m
Enterprise Value £504.3m
Revenue £235.3m
Position in Universe 325th / 1842

BUZZ-Australia's Asaleo Care: Citi sees TOM acquisition a bolt-on, cuts rating and lifts PT

Tue 22nd December, 2020 8:20pm
** Citi Research downgrades rating to "neutral" from "buy"
and lifts PT to A$1.40 from A$1.30 on Australia's hygiene and
personal products maker Asaleo Care Ltd  AHY.AX 
    ** Asaleo on Tuesday said it will acquire TOM Organic, a
feminine hygiene brand for A$12.75 mln ($9.59 mln)*:nASN000NVW
    ** Citi estimates the TOM Organic acquisition deal will add
5.5% to Asaleo's EPS by the second year
    ** Asaleo On Dec. 10 got indicative proposal from Sweden's
Essity  ESSITYa.ST  , a 36% shareholder of AHY, to acquire
remaining shares in AHY for A$1,26 each and Asaleo' board is
still assessing the proposal*:nFWN2IQ06O
    ** Citi now sees that the acquisition of TOM's is only one
possible bolt-on for Asaleo and may embolden board to rebuff
Essity's initial offer
    ** Brokerage upgrades AHY's FY21 sales and core net profit
estimates by 2.1% and 4.8% to A$456.7 mln and A$41.6 mln
    ** Two out of three analysts who cover the stock rate it
"sell" or lower and one rate it "hold"; median PT is A$1.25 –
Refinitiv data
($1 = 1.3289 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.