Has Danaher talked about financing for the deal? $4b of cash on hands. BS is not overleveraged, but this will push leverage likely towards 3x net debt/EBITDA is the math in my head is correct. I'm still not sure if I am much of a fan of buybacks at Danaher.
Sartorius is also starting to look interesting again as a purer play on Bioprocessing (lower quality management however).
I like Sartorius Stedim, but the Polyplus acquisition probably was not great in hindsight. Too on quite a bit of debt for that. Management wasn't great during the destocking, but to be fair Danaher was also pretty off there.
Pure plays on bioprocessing should do well in the future, currently at 26x forward EBIT and I think still underearning a bit....not really cheap yet, but it's for bioprocessing pure play I guess.
Has Danaher talked about financing for the deal? $4b of cash on hands. BS is not overleveraged, but this will push leverage likely towards 3x net debt/EBITDA is the math in my head is correct. I'm still not sure if I am much of a fan of buybacks at Danaher.
Sartorius is also starting to look interesting again as a purer play on Bioprocessing (lower quality management however).
I think they'll use debt probably and not much cash due to the low leverage profile!
Have to check Sartorius and Repligen!
I like Sartorius Stedim, but the Polyplus acquisition probably was not great in hindsight. Too on quite a bit of debt for that. Management wasn't great during the destocking, but to be fair Danaher was also pretty off there.
Pure plays on bioprocessing should do well in the future, currently at 26x forward EBIT and I think still underearning a bit....not really cheap yet, but it's for bioprocessing pure play I guess.