2023-04-26 10:24:33 ET
Catalent ( NYSE: CTLT ) ticked up 0.3% amid speculation that Danaher ( NYSE: DHR ) may still be interested in a takeover even after a report last Monday that the life-science company ended its pursuit. Danaherfell 1%.
Comments that Danaher ( DHR ) made on its Q1 earnings call on Tuesday appeared to indicate that the company could still be interested in a Catalent ( CTLT ) purchase, Gordon Haskett highlighted in a note on Wednesday.
Danaher ( DHR ) CEO Rainer Blair, when asked about M&A, said that "valuations continue to moderate" and he sees "more realism in the many discussions that we have across the board."
"I think the most important thing to remember is that we are not going to deviate from our disciplined approach," Blaird said on the earnings call. "It’s got to be the right end market. It’s got to be the right target and the model has to work. And it’s when those three lights flip green that we execute."
The Bloomberg report about Danaher ( DHR ) ending its pursuit of Catalent ( CTLT ) came the contract manufacturer's hares plunged 27% on April 14 after the company 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. Catalent also announced the departure of its chief financial officer.
Bloomberg reported in February that Danaher had expressed interest in acquiring the Catalent ( CTLT ).
For further details see:
Catalent ticks higher amid speculation Danaher still interested in deal