Stock Monitor: BioTelemetry Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 28, 2018 / Active-Investors.com has just released a free research report on PerkinElmer, Inc. (NYSE: PKI). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=PKI as the Company's latest news hit the wire. On February 26, 2018, RHS Ltd announced that PerkinElmer has entered into a Scheme Implementation Agreement (SIA) wherein PerkinElmer will acquire all outstanding shares of RHS at $0.28 per share in cash. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for BioTelemetry, Inc. (NASDAQ: BEAT), which also belongs to the Healthcare sector as the Company PerkinElmer. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, PerkinElmer most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=PKI
The SIA has been vetted and approved by the Board of Directors of RHS as the deal would create great value for its shareholders and be in the best interest of the Company. RHS' Board also believes that the deal with PerkinElmer would allow it to grow in a manner which not be possible on a standalone basis.
Commenting on the proposal from PerkinElmer, Dr. David Brookes, Chairman of RHS, said:
"The PKI proposal was welcomed by the Board as an opportune time to reward shareholder loyalty and to progress RHS' capabilities and technologies at an important commercial inflection point."
Dr Michelle Fraser, CEO of RHS, stated:
"The offer from PKI reinforces the considerable expertise that the RHS team have integrated into each of our products. Bringing RHS and PKI together provides an opportunity for our products to reach the clinical and applied research markets through a large and highly experienced global team."
Terms of the SIA
RHS has 89,920,483 outstanding shares, which PerkinElmer has offered to acquire at $0.28 per share in cash. The offer price is at a 100% premium of RHS's closing price of $0.14 per share on February 23, 2018, the last trading day before the deal was announced. Board members who have shareholding in the Company have agreed to vote in favor of the deal. The deal is subject to a report from an independent expert who will confirm that PerkinElmer's offer is in the best interest of RHS's shareholders.
The SIA will be implemented as per a Court approved scheme under the Australian Corporations Act. The deal also requires the approval from majority RHS's shareholders, The Australian Securities and Investments Commission (ASIC), The Australian Securities Exchange (ASX) for the implementation of the SIA. The SIA also provides for a termination fee if RHS receives a superior proposal. RHS has scheduled a meeting of its shareholders on May 22, 2018, to undertake voting on the matter. It is estimated that the first Court hearing would be scheduled on April 12, 2018, where RHS will get approval for the SIA and documentation to be shared with its shareholders. The final Court hearing for the approval of the SIA is estimated to be on May 25, 2018. The actual implementation of the SIA is expected to be on June 11, 2018. However, these dates are subject to change and based on the availability of Court dates.
PerkinElmer and RHS have also reached an understanding with regards to outstanding options of RHS. PerkinElmer has agreed to enter into separate agreements with the holders of these options to acquire all the outstanding options of RHS, which is a total of 7,400,000 at offer price ranging from $0.20 to the difference in option strike price. If PerkinElmer is unable to acquire the options, RHS has offered to plan for the acquisition of the same.
RHS has opted to raise funds with a max limit of $750,000 from The Very Company, an entity belonging to RHS Alternative Director Colin Matthews. The funding is at a 9% interest rate with repayment date of September 28, 2018. RHS plans to utilize these funds to complete the deal and for business purposes in the interim period of the acquisition. This facility will allow RHS to raise capital without diluting its shareholding before the completion of deal with PerkinElmer.
About RHS Ltd
Adelaide, South Australia-based RHS is a developer of advanced patented single cell genomic technologies focussed on improving the health and research outcomes, based on deep technical experience in the field. DOPlify® is a platform product for whole genome amplification (WGA) of single or small numbers of cells. DOPlify® is applicable to the global Next Generation Sequencing (NGS) market. PG-Seq™, RHS' NGS workflow and EmbryoCellect®, RHS' microarray workflow, both incorporate DOPlify® and have been specifically designed for the genetic screening of IVF embryos.
About PerkinElmer, Inc.
Waltham, Massachusetts-based PerkinElmer is a global leader committed to innovating for a healthier world. The Company provides solutions for critical issues especially impacting the diagnostics, discovery, and analytical solutions markets. The Company's innovative detection, imaging, informatics, and service capabilities combined with deep market knowledge and scientific expertise, help customers gain earlier and more accurate insights to improve lives. The Company has presence in over 150 countries and is supported by a team of 11,000 employees.
PerkinElmer's revenues for FY17 was approximately $2.3 billion.
Stock Performance Snapshot
February 27, 2018 - At Tuesday's closing bell, PerkinElmer's stock dropped 1.18%, ending the trading session at $76.95.
Volume traded for the day: 743.64 thousand shares, which was above the 3-month average volume of 671.63 thousand shares.
Stock performance in the last three-month - up 4.89%; previous six-month period - up 17.75%; past twelve-month period - up 39.93%; and year-to-date - up 5.24%
After yesterday's close, PerkinElmer's market cap was at $8.46 billion.
Price to Earnings (P/E) ratio was at 54.42.
The stock has a dividend yield of 0.36%.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.
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