CSL -0.35%: The AFR this morning outed CSL as they prepare to make the largest acquisition in the companies history, potentially acquiring Switzerland’s Vifor Pharma in a $10b plus deal. While it’s not yet confirmed, they seem to be making plans for a ~$4bn equity raise to fund it, with Christmas clearly adding some complexity to the mix. CSL has not raised capital since 2008, at that time to shares were trading at $39, today CSL closed at $297.27. The raise will be a placement to instituions then a retail component for existing shareholders, priced at someone between a 5-10% discount to last we would assume.
MM remains positive & long CSL
Add To Hit List
