STERIS shares are trading higher after the company entered a deal to divest its dental segment to Peak Rock Capital for $787.5 million.
Portfolio Pulse from Benzinga Newsdesk
STERIS has announced a deal to sell its dental segment to Peak Rock Capital for $787.5 million, causing its shares to trade higher.
April 11, 2024 | 11:08 am
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POSITIVE IMPACT
STERIS's agreement to sell its dental segment for $787.5 million to Peak Rock Capital has led to an increase in its stock price.
The sale of a significant segment like dental for a substantial amount of $787.5 million is viewed positively by the market, as it could potentially be used to pay down debt, reinvest in core areas, or return value to shareholders through buybacks or dividends. This strategic divestiture is likely to be seen as a positive move by investors, leading to a short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100