Activists Seem to Be Indirectly (or Directly) Influencing GEA's Latest Moves; Shares Attractive
At its annual general meeting, GEA Group announced the early departure of the CFO, details on sources for EBITDA margin gains, and that it was seeking authorisation for another share buyback (up to 10% of shares), following the one just completed in February (6%-plus of shares). We are maintaining our EUR 47 fair value estimate and wide moat rating.ÂWe believe activists are directly or indirectly playing a role in these announcements, as Elliott Management had included all of the points above ...
GEA Group focuses on the development and production of process technology and components for production methods. Co. segments include: GEA Food Solutions, which manufactures machinery for preparing, marinating, processing, cutting, and packaging meat, poultry, and other foods; GEA Farm Technologies, which manufacturers product solutions for milk production and livestock farming; GEA Mechanical Equipment, which concentrates in separators, decanters, valves, pumps, and homogenizers; GEA Process Engineering, which designs and develops of process solutions for the pharmaceutical, and chemical industries; and GEA Refrigeration Technologies, which concentrates in refrigeration technology.
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