Jul. 18 at 1:01 PM
$NEOG $4.92 bid. DAC (dollar average cost) (5)
$6.57.
CHANGE EXIT TO
$9.00 FROM
$13.00 in midterm.
UPDATE: Neogen has completed the divestiture of its global cleaners and disinfectants business to Kersia Group for
$130 mln in cash at closing, plus contingent consideration tied to future performance of the business.
note: Net proceeds from the transaction will be used to repay
$100 million of debt in the current quarter and are expected to reduce the company's net leverage by approximately 0.4x on a pro forma basis.
