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Activist fund MAK Capital urged German biotech firm Evotec SE to list its US unit, valued at over €1 billion, and accelerate cost cutting following an 85% share price decline over five years.
Updated ·First reported ·1 source
Summary
Activist fund MAK Capital is urging German biotech firm Evotec SE to list its US unit, which is valued at over €1 billion. The fund, led by Michael A. Kaufman, has also demanded an acceleration of Evotec's cost-cutting program. These calls for action follow an approximate 85% decline in the company's share price over the past five years.
Key Facts
- •MAK Capital urges Evotec SE to list its US unit.[1]confirmed
- •The US unit is reportedly worth over €1 billion.[1]confirmed
- •The activist fund is pushing for an accelerated cost-cutting program.[1]confirmed
- •Evotec shares have lost approximately 85% of their value over the last five years.[1]confirmed
Locations
GermanyGermany, Europe
51.17, 10.45United StatesUnited States, North America
37.09, -95.71Sources (1)
- initial report
Changelog
initial reportv1
Automated synthesis
Show summary
Activist fund MAK Capital is urging German biotech firm Evotec SE to list its US unit, which is valued at over €1 billion. The fund, led by Michael A. Kaufman, has also demanded an acceleration of Evotec's cost-cutting program. These calls for action follow an approximate 85% decline in the company's share price over the past five years.
- • MAK Capital urges Evotec SE to list its US unit.
- • The US unit is reportedly worth over €1 billion.
- • The activist fund is pushing for an accelerated cost-cutting program.
- • Evotec shares have lost approximately 85% of their value over the last five years.