BUZZ-Medline dips as PE backers trim stakes in $3.1 bln stock sale

Reuters03-05
BUZZ-Medline dips as PE backers trim stakes in $3.1 bln stock sale

** Medline's MDLN.O shares down 1.9% premarket at $42.08 as ~$3.1 bln secondary offering priced just months after medical supplier's Dec public debut

** MDLN late Weds announced sale of 75 mln shares by Blackstone BX.N, Carlyle CG.O, Hellman & Friedman (H&F) and Abu Dhabi Investment Authority $(ADIA)$ at $41

** Offering price represents 4.4% discount to stock's last close of $42.88

** MDLN's stock closed at $45.85 on Mon, prior to offering launch early Tues, having surged 58% since co's $7.2 bln IPO (inclusive of full overallotment), 2025's largest

** Private equity backers BX, CG and H&F offloaded 23.3 mln shares each, ADIA sold 5.1 mln shares, per the offering prospectus

** Northfield, Illinois-based MDLN has ~1.3 bln shares outstanding

** Goldman Sachs, Morgan Stanley, BofA and JP Morgan global coordinators and joint bookrunners for offering

** 20 of 25 analysts rate the stock "strong buy" or "buy", rest "hold"; median PT $55, per latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment