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Given Imaging Ltd. (GIVN) Message Board

  • dubi_calmy dubi_calmy Jan 27, 2013 11:32 AM Flag

    Permira Fund mulls buying Given Imaging

    The private equity firm's representatives were in Israel last week to visit the pill camera developer's headquarters.
    27 January 13 17:44, Shiri Habib-Valdhorn

    Sources inform "Globes" that representatives of private equity firm Permira Fund visited the offices of Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) in Yokne'am last week as part of efforts by IDB Holding Corp. Ltd. (TASE:IDBH), controlled by Nochi Dankner, to sell the company. Permira Fund is probably not the only international investor interested in buying control of Given Imaging.

    Sentiment: Strong Buy

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    • Since Given Imaging reported that it had stopped the process of selling the company, its share price has fallen 12.6%, giving the company a market cap of $493 million. The controlling core is worth $227 million but the sellers would expect a premium of tens of percentage points on this amount.
      In the past, Dankner saw Given Imaging as having potential annual revenue of $1 billion. In 2012 sales totaled $190 million.
      A private equity firm sounds like the most reasonable potential buyer for Given Imaging in the present situation. Until two weeks ago the company was for sale as a single unit and potential buyers were major healthcare and medical device companies that saw Given Imaging as a source of growth. From the moment that only the controlling core was for sale and not the entire company, the likelihood rose that any buyer would be a financial body which will try to grow the value of Given Imaging, and in the future realize its holding at a premium.

      Sentiment: Strong Buy

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