Ansell Limited has launched a $400 million placement to buy Kimberley-Clarke’s personal protective equipment business for $US640 million , as flagged by Street Talk. It comes after this column reported Goldman Sachs was crossing investors for the raise.
Terms mailed out to fund managers said Goldman Sachs has underwritten the placement, with new shares being offered at $22.45 apiece or a 6 per cent discount to Ansell’s last close. It expects to have the institutional leg done and dusted by Tuesday morning to return the stock to trading. The target designs and sells safety products, including gloves, apparel and eyewear for use in the scientific and industrials markets. It posted $US272 million revenue and $66 million EBITDA in the 2023 calendar year.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.is a co-editor of the Street Talk column.
The cut represents some 9 per cent of its global workforce. The company has also sliced its dividend payout after profits slumped by 70 per cent.
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