2023-04-17 14:36:07 ET
- Catalent ( NYSE: CTLT ) fell 1.8% , reversing a 7.6% percent gain, after a report that Danaher Corp. ( NYSE: DHR ) shelved its takeover efforts for the contract manufacturer.
- Danaher is no longer evaluating a takeover proposal, according to traders, who cited a Bloomberg report.
- The report comes after Catalent shares plunged 27% on Friday after said it expected that productivity issues and higher-than-expected costs experienced at three of its facilities will materially and adversely impact financial results for FQ3 and its outlook for the remainder of the FY 2023.
- Earlier Monday Catalent was downgraded at Baird after operational challenges.
- Developing story ...
For further details see:
Catalent falls on report Danaher said to end pursuit