Ansell Limited (ASX: $ANN) has announced its proposed acquisition of 100% of the assets that constitute Kimberly-Clark's Personal Protective Equipment business (KCPPE). The acquisition will be accompanied by a fully underwritten placement of new fully paid ordinary shares in Ansell to institutional investors in certain jurisdictions and a non-underwritten offer of new shares to eligible Ansell shareholders in Australia and New Zealand under a share purchase plan. The acquisition price, on a cash-free, debt-free basis, is subject to completion adjustments including movements in working capital. Ansell will also have the ability to accept more or less than the target share purchase plan size at its absolute discretion, with proceeds raised under the plan intended to reduce leverage. The offer booklet in respect of the share purchase plan will be made available to eligible shareholders in Australia and New Zealand following its lodgment with ASX. Ansell's most recent financial report and other periodic and continuous disclosure information lodged with the Australian Securities Exchange (ASX) should be considered in conjunction with this announcement.
The Acquisition of KCPPE is strategically compelling for Ansell, as it will strengthen the company's position in the Personal Protective Equipment market. The acquisition is expected to enhance Ansell's capabilities, reinforce differentiation, and generate attractive returns. The company aims to accelerate growth, increase its presence in faster-growing segments, and create value for both Ansell and the acquired business through identified synergies. The acquisition is aligned with Ansell's strategic priorities and is viewed as one of the most attractive M&A opportunities for the company in recent years.
Ansell Limited (ASX: $ANN) has announced its proposed acquisition of Kimberly-Clark's Personal Protective Equipment business (KCPPE) and a fully underwritten placement of new fully paid ordinary shares in Ansell to institutional investors in certain jurisdictions, along with a non-underwritten offer of new shares to eligible Ansell shareholders in Australia and New Zealand under a share purchase plan. The acquisition is strategically compelling for Ansell, aiming to strengthen its position in the Personal Protective Equipment market and generate attractive returns. The company's strategic priorities for acquisitions include accelerating growth, reinforcing differentiation, enhancing capabilities, and creating value for both Ansell and the acquired business through identified synergies. Ansell's ambitions include achieving run-rate net cost synergies of ~US$10 million per annum by the third full year of ownership and improving its financial profile with enhanced scale and growth potential.