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Maravai LifeSciences (NASDAQ:MRVI) could also be price $15 to $20 a share in a possible takeover based mostly on precedent transactions, in response to an RBC analyst, after a report that Repligen (RGEN) has a made a suggestion for the vaccine reagent vendor.
Shares of Maravai (MRVI) jumped 23% after a Reuters report of the Repligen (RGEN) takeover strategy on Friday. There is not any certainty that Maravai (MRVI) will settle for the deal, in response to the report.
“Whereas we doe consider MRVI is an effective takeout candidate given its distinctive product provide, we’re not sure if RGEN is the pure purchaser,” RBC analyst Conor McNamara wrote in a observe on Friday.
Reuters additionally reported that Repligen (REGN) is deciding if it ought to divest a few of Maravai’s divisions if it acquires the corporate. Share of Repligen (RGEN) fell 10% within the wake of the report.
A possible Repligen (RGEN) deal for Maravai (MRVI) would require the issuance of fairness, even when the mixed entity had been to lever as much as~3x LTM EBITDA, McNamara added.
“Buyers could balk at proudly owning the mixed entity at ~45x CY’25 EBITDA given potential disruption in integration,” McNamara, who has an outperform score and $15 value goal on MRVI wrote within the observe.
