Henry Schein's (HSIC) activist investor Ananym Capital Management is asking the company to revamp its board, consider divesting its medical distribution business, reduce expenses, and replace Chief Executive Stanley Bergman, Reuters reported Monday, citing sources close to the matter.
The firm told the company executives that selling the medical distribution segment could boost the share price by roughly 20%, while cost reductions could drive earnings per share growth of nearly 35%, the sources reportedly said.
Ananym Capital projects over $2.5 billion in proceeds from the divestment that can be used for repurchasing its undervalued shares, the sources added.
Neither Henry Schein nor Ananym Capital immediately responded to MT Newswires' requests for comment.
Shares of the Henry Schein were up 6.2% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 73.06, Change: +4.30, Percent Change: +6.25
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