Avantor drops on planned equity raise to fund Masterflex buy
13/09/2021 11:53
** Avantor Inc AVTR.N shares down >5% premarket as lab
products provider seeks equity to fund acquisition
** AVTR announces $750 mln stock offering to finance buy of
medtech co Masterflex urn:newsml:reuters.com:*:nPn1McSYfa
** Goldman Sachs and BofA leading the offering
** AVTR last Tues said it would buy Masterflex from
privately-held Antylia Scientific in all-cash $2.9 bln deal to
beef up its COVID-19 therapy and vaccine manufacturing
businesses urn:newsml:reuters.com:*:nL4N2Q92WW urn:newsml:reuters.com:*:nL4N2Q92L3
** AVTR has ~584.2 mln shares outstanding for ~$25 bln
market cap, per Refinitiv data
** Shares have risen 50% YTD and notched record high close
of $42.33 on Fri
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))