Jonathan Milner Welcomes Glass Lewis Report Insights, Urges Shareholders To Reject Abcam's Sale To Danaher
Portfolio Pulse from Benzinga Newsdesk
Jonathan Milner, a significant shareholder in Abcam, has urged shareholders to reject the proposed sale of the company to Danaher. Milner believes that the offer of $24 per share significantly undervalues Abcam and that the timing of the sale is inopportune. He also referenced the recent acquisition of Olink by Thermo Fisher, which commanded a strategic premium of 74%, as an example of a high-quality asset securing a substantial strategic premium in a change of control transaction.
October 23, 2023 | 6:57 am
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NEGATIVE IMPACT
The proposed sale of Abcam to Danaher is being opposed by a significant shareholder, Jonathan Milner, who believes the offer undervalues the company. This could potentially lead to a rejection of the sale by shareholders.
Jonathan Milner's opposition to the sale and his urging of other shareholders to reject the offer could potentially lead to the sale being rejected. This would likely have a negative impact on Abcam's stock price in the short term as the market had likely priced in the acquisition.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Danaher's proposed acquisition of Abcam is being opposed by a significant shareholder of Abcam, which could potentially lead to the deal falling through.
If the proposed acquisition of Abcam by Danaher is rejected by shareholders, this could have a negative impact on Danaher's stock price in the short term as the market had likely priced in the acquisition.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80