June 06, 2024 15:10 GMT
Merck KGaA (MRKGR: A3/A): Acquisition History
HEALTHCARE
Merck KGaA are a serial acquirer: they pursue M&A every 4-5yrs.
Merck are proud of their deleveraging track record following acquisitions.
- Serono 2007 4.0x -> 0.2x 2009
- Millipore 2010 1.8x -> 0.1x 2013
- AZ Electronic 2014 0.7x->0.2x 2014
- Sigma-Aldrich 2015 3.5x -> 1.8x 2018
- Versum 2019 2.8x -> 1.3x 2023
Given that debt post-Versum is now under control and that it has been 5 years since an acquisition, it pays to be vigilant.
Keep reading...Show less
67 words