HALO Withdraws Acquisition Bid for EVO, Reaffirms '24 View, Stock Up

Zacks11-25

Halozyme Therapeutics, Inc. HALO announced that it has withdrawn its non-binding proposal to acquire Evotec SE EVO for €11.00 per share in cash. The acquisition offer implied a fully diluted equity ...

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The acquisition offer implied a fully diluted equity ...</p>\n\n<a href=\"https://finance.yahoo.com/news/halo-withdraws-acquisition-bid-evo-154000431.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>HALO Withdraws Acquisition Bid for EVO, Reaffirms '24 View, Stock Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHALO Withdraws Acquisition Bid for EVO, Reaffirms '24 View, Stock Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-25 23:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/halo-withdraws-acquisition-bid-evo-154000431.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Halozyme Therapeutics, Inc. HALO announced that it has withdrawn its non-binding proposal to acquire Evotec SE EVO for €11.00 per share in cash. The acquisition offer implied a fully diluted equity ...</p>\n\n<a href=\"https://finance.yahoo.com/news/halo-withdraws-acquisition-bid-evo-154000431.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://finance.yahoo.com/news/halo-withdraws-acquisition-bid-evo-154000431.html","article_id":"2486058699","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/cYhdSHZ3kDYVQNhcMTsM_w--~B/aD0zOTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/4a0e141116a5c1fff5e57140486a1890"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486058699","pubTimestamp":1732549200,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Halozyme Therapeutics, Inc. HALO announced that it has withdrawn its non-binding proposal to acquire Evotec SE EVO for 11.00 per share in cash. The acquisition offer implied a fully diluted equity value of 2.0 billion.Halozyme decided to withdraw the acquisition bid following the unwillingness of Evotec’s management to discuss the potential buyout offer. EVO maintained its desire to remain an independent company.Besides withdrawing the buyout offer, HALO also reaffirmed its 2024 revenue guidance that was provided last month.Shares of Halozyme were up 7.2% on Nov. 22 following the announcement of the news. The stock has rallied 32.6% so far this year against the industry’s decline of 8.5%.Earlier this month, Halozyme submitted its non-binding proposal to acquire Evotec for 11.00 per share in cash. The offer represented a premium of 109% to EVO's undisturbed share price on Oct. 15, 2024.The acquisition would have diversified HALO’s business operation and also likely extended Halozyme’s r","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","CSTL":"Castle Biosciences, Inc.","HALO":"奥洛兹美医疗","EVO":"Evotec SE","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","BK4196":"保健护理服务","SPRO":"Spero Therapeutics Inc.","BK4121":"生命科学工具和服务"},"translate_title":"HALO撤回对EVO的收购要约，重申“24”观点，库存充足","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CSTL":1,"EVO":1,"HALO":1,"SPRO":1},"content_text":"Halozyme Therapeutics, Inc. HALO announced that it has withdrawn its non-binding proposal to acquire Evotec SE EVO for €11.00 per share in cash. The acquisition offer implied a fully diluted equity value of €2.0 billion.\nHalozyme decided to withdraw the acquisition bid following the unwillingness of Evotec’s management to discuss the potential buyout offer. EVO maintained its desire to remain an independent company.\nBesides withdrawing the buyout offer, HALO also reaffirmed its 2024 revenue guidance that was provided last month.\nShares of Halozyme were up 7.2% on Nov. 22 following the announcement of the news. The stock has rallied 32.6% so far this year against the industry’s decline of 8.5%.\nImage Source: Zacks Investment Research\nMore on HALO’s Recent Acquisition Offer\nEarlier this month, Halozyme submitted its non-binding proposal to acquire Evotec for €11.00 per share in cash. The offer represented a premium of 109% to EVO's undisturbed share price on Oct. 15, 2024.\nShares of HALO tanked on the buyout offer.\nPer Halozyme, the acquisition of EVO would have created a global services company with a distinctive set of technologies and an innovative deep pipeline. The buyout would have complemented Halozyme's ENHANZE drug delivery technology as well.\nThe acquisition would have diversified HALO’s business operation and also likely extended Halozyme’s revenues and EBITDA into the next decade and beyond.\nDespite the lucrativeness of the buyout offer, Evotec’s management was not open to further discussions, which eventually led to HALO withdrawing the offer.\nHALO Maintains 2024 Guidance\nLast month, along with its third-quarter earnings release, Halozyme raised its 2024 financial guidance.\nPer the latest press release, the company maintained its 2024 financial guidance.\nHalozyme expects total revenues in the range of $970 million to $1.02 billion in 2024, implying year-over-year growth of 13-22%.\nRoyalty revenues are anticipated in the range of $550-$565 million.\nAdjusted EBITDA is expected to be between $595 million and $625 million in 2024, implying growth of 40% to 47% year over year.\nThe company expects adjusted earnings in the range of $4.00-$4.20 per share, indicating an improvement of 44-52% year over year.\nHALO's Zacks Rank & Other Key Picks\nHalozyme currently carries a Zacks Rank #2 (Buy).\nSome other top-ranked stocks from the biotech sector are Spero Therapeutics, Inc. SPRO and Castle Biosciences, Inc. CSTL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.\nIn the past 60 days, estimates for Spero Therapeutics’ 2024 loss per share have narrowed from $1.59 to $1.13. Loss per share estimates for 2025 have narrowed from $1.54 to 54 cents during the same time. Year to date, shares of SPRO have declined 21%.\nSPRO’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 94.42%.\nIn the past 60 days, estimates for Castle Biosciences’ 2024 loss per share have narrowed from 58 cents to 8 cents. Loss per share estimates for 2025 have narrowed from $2.13 to $1.88 during the same time. Year to date, shares of CSTL have surged 38.1%.\nCSTL’s earnings beat estimates in each of the trailing four quarters, the average surprise being 172.72%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nHalozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report\nSpero Therapeutics, Inc. (SPRO) : Free Stock Analysis Report\nEvotec AG (EVO) : Free Stock Analysis Report\nCastle Biosciences, Inc. (CSTL) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486058699"}