Fagron (ex Arseus) (Page 5 sur 10)

D'accord avec toi, Juan

dA

Bonjour à tous,

Personnellement, j'aurais tendance à me méfier des conseils de ce monsieur à propos de Fagron.

Monsieur Boite est bien englué dans Fagron. Voulez-vous vous joindre à lui ?

;-)

Cordialement,

dA

Bonjour à tous,

Qui a FAGRON parmi nous?

JeanG

@tous
Aux dernières nouvelles, 27 € serait le max.

Salut tout le monde,
Fagron, après avoir bien remonté ces derniers temps, est subitement partie à la baisse hier vers 14 H (jusqu'à - 26 %) pour remonter un peu rapidement. Elle clôture à  - 11,80 %.
Que s'est-il passé ?
Est-il opportun de s'y lancer ou mieux vaut rester à l'écart pour l'instant ?
Elle valait dans les 40 € cet été.
Bonne journée,
demat

Dernière modification par demat (04-11-2015 09:20:56)

Salut tout le monde,
avertissement ce matin de KBC, ça vaut ce que ça vaut, mais ils descendent leur TP de 26 € à 17 €.

News:
It has been two months since Fagron announced it had been approached by
parties to acquire all its shares. Lack of M&A process visibility leaves the
market disoriented. We drop our BUY rating, moving to neutral (Hold).
Our View:
On 2 October, Fagron announced it had been approached by ‘parties’
interested in acquiring all shares, yet warning there was no certainty the
discussion would lead to a public offer. Simultaneously, Fagron issued a long
anticipated profit warning downgrading its FY15 top and bottom line outlook.
On 9 October it announced it had allowed potential bidders to perform due
diligence on the company. Quite quickly several names of interested private
equity parties (Cinven, Bain Capital, EQT and CVC), next to former reference
shareholders M. Coucke and Waterland were rumoured in the press.
By the end of October, MergerMarket reported that several parties had
abandoned the process, while Cinven was said to be on the forefront. Cinven
had already been rumoured in 2012 to be interested in Fagron. The article
mentioned that an argument to quit the bidding process was the uncertainty
in the US. The deadline for final bidding offers was said to be end of October.
Since then, now 4 weeks later, it has been very silent on the bidding process.
In the meantime, WSJ reported that US Federal prosecutor investigations
were nation-wide focusing on the widespread fraud by compounding
pharmacies in claiming too high charges. Fagron revealed that it had
received questions though no claims had been asserted or filed. At this
stage, it is unclear if Fagron won’t receive any legal claims, as the Federal
investigators said they would start filing claims in 1Q16.
Next to the compounding reimbursement issues, which have been
responsible for the company’s pressured US-operations, and Fagron’s too
high debt level (most likely resulting in a covenant breach), we believe that
the US nation-wide fraud investigations bring an additional dimension of
uncertainty for potential bidders to the table. A type of uncertainty for which
the consequences may be difficult to anticipate.
Conclusion:
Lack of any positive signal on the bidding process over the last month and
additional uncertainties in the US compounding market, on top of the
previously known operational and balance sheet problems which need an
imminent solution, force us to abandon our BUY recommendation and move
to a neutral position (Hold), with a target price aligned to the pre-M&A
announcement (€ 17/sh).
The stock’s current extreme volatility is a reflection of the market’s
disorientation. Indeed, the Fagron’s share price reflects a balancing act
between the hope for a quick take-out premium and the fear for a massive
stock dilution needed to resolve the debt situation. Even those with short
positions seem disoriented as the net short position has dropped to below
3%, versus 6% in October.

Bonne journée,
demat

Comme je le disais en août par 2 fois, Fagron me rappelle Bekaert : parcours dingue à la hausse durant quelques années et puis dégringolade dont on a du mal à voir le point final.

Si en plus il y a AK, ça aura été un beau gachi.

Et Cédric Boite qui est chargé comme un mulet à 31€. Hum.