The Ansell Limited (ASX: ANN) share price ended Wednesday’s session higher after it was the subject of more takeover rumours.
According to reports in The Australian, the personal protective equipment maker could be on the radar of international rivals seeking new acquisitions.
As of Wednesday’s close, the Ansell share price is $32.61. That’s 2.32% higher than it was at the end of Tuesday’s session.
For context, both the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) gained 0.8% on Wednesday.
Let’s take a closer look at the rumours surrounding Ansell today.
Ansell share price gains amid takeover rumours The Ansell share price spent Wednesday in the green. The gains came after The Australian flagged the possibility Ansell is being viewed as a takeover target by its larger competitors.
The publication stated healthcare and safety product manufacturer 3M (NYSE: MMM) and protective equipment producer Dupont do Nemours Inc (NYSE: DD) are both on the lookout for new businesses to buy.
Further, it said Ansell, with its $4.17 billion market capitalisation, could be prime acquisition fodder. Particularly as debt is currently cheap and the business is performing well.
The company’s bottom line was positively impacted by the COVID-19 pandemic as people turned to using personal protective equipment to help stave off the virus.
Ansell reported US$2 billion worth of sales for financial year 2021, a 25.6% increase on the prior financial year.
It also saw its net profit after tax boosted 57% on that of the prior comparable period, reaching US$248 million.
It’s not the first time The Australian has flagged Ansell as a takeover target this year.
In February, the publication stated private equity suitors could be readying themselves to make a bid for the ASX-listed company.
Despite reporting increased profits, the Ansell share price has struggled on the ASX this year.
It is currently 6% lower than it was at the start of 2021. It has also fallen 22% since this time last year.
Ansell share price gains amid takeover rumours The Ansell share price spent Wednesday in the green. The gains came after The Australian flagged the possibility Ansell is being viewed as a takeover target by its larger competitors.
The publication stated healthcare and safety product manufacturer 3M (NYSE: MMM) and protective equipment producer Dupont do Nemours Inc (NYSE: DD) are both on the lookout for new businesses to buy.
Stock in Malaysia are manipulated by big and greedy shark.. you will never find a fair deal in Malaysia stock.. today carepls up 25%, next week will down 35%... You will always a loser...
Glove counter going to shoot up. OMG Market crash around the world. New variant from South Africa now confirm in Belgium. EU in full alert. Brace for impact guys. Glove going back as darling on this tsunami.
Glove ASP price remained at around USD35.. What technical basis you think next week the glove counter remain uptrends??? Just because of some new covid variant it up 25% last Friday... Monday market open, better you faster sell off all stock you brought in Friday... Next week confirmed glove counter will shooting down more than 35%..
This stock has its price shot up with other glove counters last year April, at that time the company was still making losses. Not sure about this time.
The world reacted to omicron faster than delta! Borders are shut & study already began on the new vaccine & it can be ready in no time. no cases of omicron have been identified to date in the U.S so far. No spikes in covid cases around the world at this time although it had landed in a few countries. Even South Africa only just beginning to see the increase in cases from the bottom of the Delta wave. So far only 22 +ve cases detected in the country & a handful of cases around the world. These are all the good signs around the world.
Carepls shares price had overreacted to the omicron news. Will it continue to rally up just because of a handful of +ve cases (less than 50 confirmed omicron cases) around the world.
Don't get stuck at the condo. It has happened again & again. Save yourself from the misery. The fundamental of the company has changed. Look at the latest QR result carefully.
Based on current QTR results,the company results are good. The last two QTR circumstances are different as the company are selling at extraordinary ASP. If compared with QTR prepandemic,the company has a loss based on turnover of RM 100m. In current QTR ,the company is profitable under normal operating conditions. In additions as the company is expanding with current cash surplus, the company will be able to make more profit.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
CharlesT
14,945 posts
Posted by CharlesT > 2021-11-26 18:34 | Report Abuse
Likely to post losses in coming q i think