The Zacks Analyst Blog Highlights: Kohlberg Kravis Roberts, Gardner Denver,
Blackstone Group, Goldman Sachs Group and Johnson & Johnson
CHICAGO, March 12, 2013
CHICAGO, March 12, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Kohlberg Kravis Roberts & Co.
(NYSE:KKR), Gardner Denver Inc. (NYSE:GDI), The Blackstone Group LP (NYSE:BX),
The Goldman Sachs Group, Inc. (NYSE:GS) and Johnson & Johnson(NYSE:JNJ).
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Here are highlights from Monday's Analyst Blog:
Kohlberg Kravis in Expansion Mode
Recently, private-equity firm Kohlberg Kravis Roberts & Co. (NYSE:KKR)
announced its plan to acquire Pennsylvania-based industrial equipment
manufacturer Gardner Denver Inc. (NYSE:GDI) for $3.74 billion. Kohlberg Kravis
will pay $76 for each of the outstanding shares of Gardner Denver, which is at
a 39% premium to this industrial machinery maker's closing price on Oct 24,
The agreement is subject to approvals from the shareholders as well as
regulatory bodies and is anticipated to close in the third quarter of 2013.
Kohlberg Kravis triumphed over major private equity firms like The Blackstone
Group LP (NYSE:BX).
The Goldman Sachs Group, Inc. (NYSE:GS) acted as Gardner Denver's banker for
the deal, whereas UBS AG, along with Simmons & Company International, advised
Kohlberg Kravis. Subsidiaries of UBS, Barclays, Citigroup, Deutsche Bank,
Royal Bank of Canada and Mizuho Financial Group offered debt financing
commitments to Kohlberg Kravis.
The acquisition will be immensely beneficial to Kohlberg Kravis, as Gardner
Denver boasts of a 100-year old expertise in industrial goods manufacturing as
well as technical innovation. For Kohlberg Kravis, it is the third deal in the
industrial sector. Earlier, in 2011, it agreed to acquire Capsugel – a
division of pharmaceutical major Pfizer Inc. Later that year, another deal was
inked with Capital Safety – a supplier of safety gear for construction and
According to Kohlberg Kravis, the deal is a part of its focus on diverse
revenue sources through the introduction of inventive customer-friendly
We believe the company's broad diversification strategy positions it
comfortably to benefit from enhanced global investment flows. However, the
unstable U.S. dollar, volatile equity markets and a sluggish economic
recovery, along with mounting competition, make us apprehensive.
Kohlberg Kravis currently carries a Zacks Rank #3 (Hold) whereas Gardner
Denver carries a Zacks Rank #2 (Buy).
J&J Seeks EU Nod for Combo Drug
Janssen Cilag International NV, a part of the Johnson & Johnson(NYSE:JNJ)
family of companies, recently announced the submission of a Marketing
Authorisation Application (MAA) in the EU for its fixed-dose combination of
canagliflozin and metformin (immediate release) for the treatment of type II
Approval of this fixed dose combination would provide patients with a
convenient treatment option. Johnson & Johnson is currently seeking approval
for canagliflozin in the US as well as the EU.
Johnson & Johnson had presented encouraging phase III data on canagliflozin at
the annual meeting of the European Association for the Study of Diabetes
(EASD) in Oct 2012. The company presented results from CANVAS (CANagliflozin
cardioVascular Assessment Study) -- a prospective, double blind,
placebo-controlled trial evaluating the efficacy, tolerability and
cardiovascular safety of canagliflozin. The study involves 4,330 type II
diabetes patients (adults) who are at higher risk for cardiovascular disease.
The data was presented from an 18-week sub-study involving 1,718 patients who
had been under insulin therapy for an average of 7.1 years. Johnson & Johnson
said that two doses of canagliflozin were evaluated in the study – 100 mg and
300 mg. Patients were randomized to receive either canagliflozin dosage or
Johnson & Johnson reported a significant decline in blood glucose levels when
canagliflozin was used in addition to insulin therapy compared to placebo.
Moreover, patients in the canagliflozin arms experienced a reduction in body
weight compared to placebo.
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