Debt-ravaged Ascendis Health warned on Wednesday that it will enter business rescue if shareholders shoot down its recapitalisation programme in coming months.
Should this occur, shareholders may get little to no value back for their shares if there is a fire sale of distressed assets, CEO Mark Sardi said, who described the business in relation to its debt as “like driving a Ferrari with its handbrake on”...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.