Fresenius SE (FRE GR) & Fresenius Medical (FME GR) Germany
Healthcare
Elliott has taken a stake in Fresenius SE, but the company’s top shareholder, the Else Kroner Foundation, is an obstacle to immediate value creation, a source told CTFN. As Elliott faces down the foundation, the activist could force a breakup of Fresenius Medical, a partially owned subsidiary of the company, or agitate for equity-dilutive M&A by subsidiary Kabi to improve its market share in the US. Bankers are already pitching the firm’s components to potential private-equity bidders, with subsidiary Vamed proving the toughest sell, the source said. Click here for the full story.
Edition: 148
- 11 November, 2022