FRANCHISE GROUP, INC.

(FRG)
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Delayed Nasdaq  -  04:00 2022-08-05 pm EDT
31.34 USD   -8.15%
08/05Franchise Group Q2 Revenue Rises; Cuts 2022 Guidance; Shares Drop
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08/05Oppenheimer Adjusts Franchise Group Price Target to $45 From $65, Maintains Outperform Rating
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08/05B. Riley Lowers Franchise Group's Price Target to $49 from $63 After Lower-than-Expected Q2 Results, Reduces Q3, 2022, 2023 Estimates; Keeps Buy Rating
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Factbox: Dealmaking hits the rocks due to stormy markets

07/01/2022 | 10:38am EDT
A pedestrian passes Novartis' Institutes for Biomedical Research in Cambridge

(Reuters) - Efforts by companies to strike merger agreements with buyout firms are floundering in stormy markets, with private equity struggling to raise financing for bids big enough to satisfy shareholders and their boards.

These are firms that have withdrawn, postponed or changed plans of their M&A deals in recent days:

KOHL'S CORP

The U.S. department store chain called off its sale to Vitamin Shoppe-owner Franchise Group on July 1, blaming a downturn in market conditions.

Kohl's had entered exclusive talks with Franchise Group in June, valuing it at nearly $8 billion. Kohl's had rejected bids it received since January for undervaluing the company.

NOVARTIS

The Swiss drugmaker is considering a spin-off of its generic drug unit Sandoz rather than selling it to private equity firms, Bloomberg reported on June 30, citing unnamed sources amid a challenging macro environment.

JUST EAT TAKEAWAY

Doubts on whether Europe's largest online food deliverer will successfully sell its U.S. Grubhub operation dragged shares to an all-time low at the end of June, although the company said it had not changed its strategy and funding was not in doubt.

WALGREENS BOOTS ALLIANCE

The British pharma company on June 28 scrapped plans to sell its UK pharmacy chain Boots, saying no third party was able to make an adequate offer for the company, which had been valued at as much as 8 billion pounds ($10 billion).

Several sources told Reuters that lender wariness had made raising the funds difficult for private equity bidders Apollo Global and TDR.

RECKITT BENCKISSER GROUP

The British consumer goods company might shelve a planned $7 billion sale of its infant nutrition unit due to a worsening financing market, including lack of available funding, Bloomberg News reported on June 29.

($1 = 0.8318 pounds)

(Compiled by Mateusz Rabiega, Patrycja Zaras, Sarah Morland and David O'Sullivan in Gdansk; Editing by Susan Fenton)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FRANCHISE GROUP, INC. -8.15% 31.34 Delayed Quote.-39.92%
JUST EAT TAKEAWAY.COM N.V. -2.25% 18.41 Real-time Quote.-62.02%
KOHL'S CORPORATION 1.77% 30.55 Delayed Quote.-38.15%
NOVARTIS AG 0.85% 82.05 Delayed Quote.2.20%
RECKITT BENCKISER GROUP PLC -1.28% 6610 Delayed Quote.4.23%
WALGREENS BOOTS ALLIANCE, INC. 0.03% 38.99 Delayed Quote.-25.25%
All news about FRANCHISE GROUP, INC.
08/05Franchise Group Q2 Revenue Rises; Cuts 2022 Guidance; Shares Drop
MT
08/05Oppenheimer Adjusts Franchise Group Price Target to $45 From $65, Maintains Outperform ..
MT
08/05B. Riley Lowers Franchise Group's Price Target to $49 from $63 After Lower-than-Expecte..
MT
08/04FRANCHISE GROUP : Q2 Earnings Snapshot
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08/04FRANCHISE : Announces Fiscal 2022 Second Quarter Financial Results - Form 8-K
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08/04TRANSCRIPT : Franchise Group, Inc., Q2 2022 Earnings Call, Aug 04, 2022
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08/04Franchise Group, Inc. Reports Earnings Results for the Second Quarter and Six Months En..
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08/04Earnings Flash (FRG) FRANCHISE GROUP Reports Q2 Revenue $1.1B
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08/04Earnings Flash (FRG) FRANCHISE GROUP Reports Q2 EPS $1.19
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08/04Franchise Group, Inc. Announces Fiscal 2022 Second Quarter Financial Results
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Analyst Recommendations on FRANCHISE GROUP, INC.
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Financials (USD)
Sales 2022 4 320 M - -
Net income 2022 106 M - -
Net Debt 2022 1 534 M - -
P/E ratio 2022 12,6x
Yield 2022 7,98%
Capitalization 1 265 M 1 265 M -
EV / Sales 2022 0,65x
EV / Sales 2023 0,58x
Nbr of Employees 11 895
Free-Float 70,1%
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Mean consensus BUY
Number of Analysts 7
Last Close Price 31,34 $
Average target price 54,00 $
Spread / Average Target 72,3%
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Managers and Directors
Brian Randall Kahn President, Chief Executive Officer & Director
Eric F. Seeton Chief Financial Officer
Matthew E. Avril Chairman
Scott Terrell Chief Information Officer
Andrew F. Kaminsky Chief Administrative Officer & Executive VP
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