Aug. 27, 2015, 5:39 PM
- Activision Blizzard (NASDAQ:ATVI) will replace Pall Corp. (NYSE:PLL), and United Continental (NYSE:UAL) will replace Hospira (NYSE:HSP) in the S&P 500 after the close of trading on Aug. 28 and Sept. 2, respectively.
- S&P 500 member Danaher is acquiring Pall, and Hospira is being acquired by Pfizer.
- ATVI +6.3%, UAL +6.8% AH.
May 13, 2015, 2:34 PM
- Danaher (DHR +1.2%) paid a high price in its $127.20/share deal for Pall (PLL +4.5%), valuing the filtration and purification company at ~22x EBITDA in the last year, roughly double the median multiple paid for big industrial and life sciences equipment acquisitions in the last five years, according to Bloomberg.
- But Janney analysts like the purchase and DHR's decision to split itself into two companies, noting DHR had less than 5% exposure to the rapidly growing pharma/biotech end-markets; the consolidation enables it to penetrate the rapidly growing biopharma market and will more than double DHR’s exposure to pharmaceutical customers.
- PLL is the no. 2 or no. 3 player in the overall bioproduction market, accounting for one-third of revenues, and is growing at a 10%-plus organic clip with 25%-30% margins, the firm says, adding that it expects continued strong growth as industry dynamics are still evolving.
- Janney thinks more acquisitions could be on the way, speculating that DHR/PLL could circle Repligen (NASDAQ:RGEN) on the belief that bioproduction media remains a gap in its product portfolio.
May 13, 2015, 9:15 AM
May 13, 2015, 8:01 AM
- After announcing its acquisition of Pall Corp. (NYSE:PLL), Danaher (NYSE:DHR) now says it will split itself into two independent, publicly traded companies.
- The transaction will create a science and technology company that will include Pall and retain the Danaher name (generated approximately $16.5B in 2015 revenues including Pall).
- The second company will be a diversified industrial growth business (generated approximately $6B in 2015 revenues).
- The transaction is expected to occur through a tax-free separation.
- DHR +6.6% premarket
- Previously: Danaher edges out Thermo Fisher for Pall purchase (May. 13 2015)
May 13, 2015, 7:44 AM
- Pall Corp. (NYSE:PLL) has agreed to be acquired by Danaher (NYSE:DHR) for $127.20 per share in cash, or $13.8B including assumed debt and net of acquired cash.
- The offer represents approximately a 28% premium to Pall's closing price of $99.31 on Monday, the last trading day prior to speculation about a possible transaction.
- The deal is expected to close in 2015.
- PLL +4.8%; DHR +7% premarket
- Previously: Jefferies: Danaher has upper hand to acquire Pall (May. 12 2015)
- Previously: WSJ: Danaher, Thermo Fisher compete to acquire Pall Corp. (May. 11 2015)
May 12, 2015, 9:16 AM
May 11, 2015, 6:23 PM
- Pall Corp. (NYSE:PLL) +7.1% AH after WSJ reports it is in the late stages of an auction that could value the company at well north of $10B, with potential buyers Danaher (NYSE:DHR) and Thermo Fisher Scientific (NYSE:TMO) said to be vying for a successful deal.
- Pall's market value at today’s close is $10.6B; given prices typically paid in takeovers, the report says a deal for the maker of water filtration and purification systems could be valued at ~$13B or more.
Feb. 24, 2015, 7:39 AM
- Net earnings of $84.4M, or $0.78 per diluted share vs. $83.7M, or $0.75 per diluted share in the same quarter a year ago.
- Pro forma diluted EPS of $0.88, a 7% increase compared to $0.82 a year earlier (including a headwind of approximately $0.11 from foreign currency translation).
- Revenue by segment: Life Sciences - BioPharmaceuticals +13%; Food and Beverage +8%; Medical +2%; Systems -6%. Industrial - Process Technologies flat; Aerospace +8%; Microelectronics +3%; Systems +9%.
- The company reduced its full-year pro forma EPS guidance to $3.65-$3.85 (6%-12% growth over fiscal 2014) from 3.75-$3.95, due to foreign currency headwinds.
- FQ2 results
- PLL -2.8% premarket
Nov. 25, 2014, 7:57 AM
- Net earnings of $88.3M, or $0.81 per diluted share vs. $71.5M, or $0.63 per diluted share in the same quarter a year ago.
- Pro forma diluted EPS of $0.89, a 27% increase compared to $0.70 a year earlier (including a detriment of approximately $0.05 from foreign currency translation).
- Revenue by segment: Life Sciences - BioPharmaceuticals +18%; Food and Beverage +4%; Medical -2%; Systems +28%. Industrial - Process Technologies +19%; Aerospace +6%; Microelectronics +8%; Systems +16%.
- The company expects continues to expect pro forma EPS of $3.75 to $3.95 (9-15% growth over fiscal 2014).
- FQ1 results
- PLL +1.4% premarket
May 31, 2013, 11:50 AM
Shares of Pall Corp. (PLL -3.3%) slip after FQ3 revenue comes in light. More from the report: CEO Larry Kingsley calls the results "pretty solid" given the economic environment. Life Sciences Food & Beverage sales slide 21% Y/Y due to weak capital spending and revenues in the industrial segment fall 7% Y/Y. Outlook: The company narrows its EPS guidance range for the full year to $2.95-3.05 versus consensus of $3.07. (PR)| May 31, 2013, 11:50 AM
May 31, 2013, 10:56 AM
Nov. 27, 2012, 2:10 PM
Nov. 5, 2012, 12:15 PM
Pall (PLL -5.4%) shares sink after the maker of filtration and purification products says its FQ1 will be challenging due to foreign exchange headwinds which will reduce EPS by $0.07-$0.10. PLL expects full-year earnings to be at the low end of its $3.05-$3.25 previously issued guidance. (slides)| Nov. 5, 2012, 12:15 PM
Sep. 13, 2012, 9:10 AM
Sep. 13, 2012, 8:30 AM
Pall (PLL) +7.8% premarket after yesterday's strong FQ4 earnings report included a forecast calling for EPS to grow in a yearly range of 9%-16%, implying adjusted profit of $3.05-$3.25/share. For FY 2012, PLL generated pro-forma earnings from continuing operations of $2.80/share, up 16% Y/Y.| Sep. 13, 2012, 8:30 AM
Sep. 12, 2012, 6:40 PMPall (PLL): FQ4 EPS of $0.73 misses by $0.04. Revenue of $783.7M (+0.4% Y/Y) beats by $65M. Shares +4.8% AH. (PR) | Sep. 12, 2012, 6:40 PM