Tecan scales peak after "transformative" Paramit acquisition
24/06/2021 08:28
** Tecan TECN.S up 16% to record high in early deals after
co announces acquisition Paramit in $1 bln deal it says will be
immediately and significantly EPS accretive urn:newsml:reuters.com:*:nASN001D6Q
** Deal is "transformtive", says Zürcher Kantonalbank
analyst Daniel Buchta. "With the acquisition, Tecan is doubling
its addressable market by CHF 13-15 billion".
** "The purchase price is relatively high, but justified due
to the cost and topline synergies in the current market
environment... The news is positive overall," he adds
** Tecan shares up 12.7% by 0724 GMT, top gainers on the
STOXX
(Reporting by Danilo Masoni)
((Danilo.Masoni@TR.com))