German medical software company CompuGroup Medical is wooing Belgian graphics group Agfa-Gevaert (EBR:AGFB), the companies said last week.
Agfa makes medical IT products, which would bolster CompuGroup’s software for doctors’ offices, pharmacies and hospitals; Agfa also has a portfolio of other products including X-ray machines.
The combined company would have annual sales of more than €3 billion ($3.3 billion).
CompuGroup said it gave Agfa’s board a non-binding indication of interest but said it was not certain that it would end up making a firm offer.
“The discussions between the companies are at an early stage. No response has been given to the indication of interest and CompuGroup Medical SE has not been able to verify or discuss any of the assumptions and conditions underlying its indication of interest,” CompuGroup said.
Agfa, whose market value has shrunk by a third to €616 million this year, said its board would evaluate CompuGroup’s approach carefully.
The news sent shares in Agfa up 6.2% to a 6-month high of €3.80 (about $4.11). CompuGroup shares were down 3.7% in early activity, with traders citing concerns that the German company would be overtaxing itself with a takeover of Agfa.
“We think a takeover offer by CompuGroup will only occur if they have a solution for Agfa Graphics and the€1.25 billion pension liabilities in hand,” analysts at KBC wrote in a note to clients.
CompuGroup has grown through a series of bolt-on acquisitions in recent years, most recently buying a majority in Vega, an Italian distributor of its software, last month.
Agfa, which in 2004 sold the eponymous camera film business that made it a household name, is active in the printing and medical imaging business. Its healthcare business accounts for about 40% of its €2.6 billion in annual revenue.
($1 = 0.9158 euros)
Material from Reuters was used in this report.
The post Report: CompuGroup Medical woos Agfa-Gevaert appeared first on MassDevice.
from MassDevice http://ift.tt/2f5H7sV
Cap comentari:
Publica un comentari a l'entrada