Deals
Top Rubber Glove Maker to Raise Funds Chasing Condom Takeovers
- Stock is Malaysia's best performer this year after doubling
- Company plans to raise as much as $232 million for purchases
An employee inspects condoms during testing at a condom factory in Johor, Malaysia.
Photographer: Goh Seng Chong/BloombergThis article is for subscribers only.
Top Glove Corp. expects to conclude at least one acquisition in the fiscal year through August as the Malaysian company seeks to maintain record earnings momentum.
The world’s biggest rubber-glove maker is targeting rivals as well as manufacturers of condoms and catheters and will raise as much as 1 billion ringgit ($232 million) in bank loans to spend on acquisitions, Chairman Lim Wee Chai said in an interview Thursday. The company is working with banks including HSBC Holdings Plc and JPMorgan Chase & Co. on potential deals, he said.