CSL’s saved one of the best (or biggest, at least) for last. The group signed its $16.4 billion acquisition of Swiss-based kidney diseases specialist Vifor Pharma on Tuesday, and was funding it with the country’s biggest ever (non-Telstra IPO) equity raising.
There were plenty of bankers named in the release, as is customary. PJT Partners, Bank of America and Goldman Sachs each secured roles, along with Credit Suisse and Gresham, in a deal that’s sure to reshape the M&A league table.
The raising component is expected to fly out the door. Fund managers love discounted stock and discounted CSL stock seemed like a no-brainer heading into the Christmas break.
Market darling CSL is cashing in on its golden 25-year track record of making money for shareholders by asking investors to back Australia’s biggest ever equity raising,
