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The CSL Limited (ASX: CSL) share price is out of form in 2021 and underperforming the S&P/ASX 200 Index (ASX: XJO).

Since the start of the year, the biotherapeutics company’s shares are down 2% to $279.14.

Could it be time to consider buying CSL shares?

A number of Australia’s leading brokers have given their verdict on the CSL share price in recent months. And as you might expect due to COVID-19 uncertainties, opinion is largely divided on whether now is a good time to consider buying CSL shares.

Below is a summary of what brokers are saying about CSL shares in July 2021.

Citi

Citi currently has a neutral rating and $310.00 CSL share price target. This implies potential upside of 11% over the next 12 months. Citi is also forecasting a CSL dividend of $3.14 per share in FY 2021.

Goldman Sachs

Goldman Sachs has a neutral rating and CSL share price target of $305.00. If CSL shares hit this level, it will mean a gain of 9.2%. In addition, Goldman has pencilled in a CSL dividend of $2.81 this year.

Morgans

Morgans currently has an add rating and CSL share price target of $301.10. This represents a potential return of 7.9%. The broker is also forecasting a CSL dividend of $2.86 per share in FY 2021.

UBS

UBS is the most bullish broker with a buy rating and CSL share price target of $330.00. This implies potential upside of 18.2% over the next 12 months. UBS’ analysts are forecasting a CSL dividend of ~$2.33 per share in 2021.

Broker comments

The team at Goldman Sachs explained why they are neutral on the CSL share price.

Goldman said: “We are Neutral rated on CSL. Our 12-month TP of A$305 is based on our target NTM EV/EBITDA multiple of 28.9x. Key upside risks include: (1) Faster-than-expected recovery in plasma collections; (2) More supportive pricing dynamic than we already expect; (3) Positive results from the pipeline. Key downside risks include: (1) Extent of disruption to plasma collections; (2) Threat of mRNA/competitive approaches to Seqirus vaccine business; (3) Competitive product launches; (4) Plasma donor fee inflation.”

The post Could it be time to consider buying CSL (ASX:CSL) shares? appeared first on The Motley Fool Australia.

More reading

• 5 worst-performing ASX 200 healthcare shares of FY21
• How these top ASX biotech shares performed in FY21
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• CSL (ASX:CSL) share price up after new AstraZeneca advice
• Why CSL (ASX:CSL) could be an ASX 50 share to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Macquarie Group Ltd (ASX: MQG) shares finished in the green today following reports it’s considering an attempt to secure a buyout for Sydney Airport Holdings Pty Ltd (ASX: SYD) as part of a consortium. By market close, the Macquarie share price was trading 0.45% higher at $157.17.

Let’s dive into today’s developments regarding a potential new bidding war for Australia’s largest airport operator.

Macquarie share price outperforms on Thursday

The Macquarie share price managed to outperform the S&P/ASX 200 Index (ASX: XJO) today, which finished the session just 0.2% higher. This came following reports from various sources that Macquarie is weighing up the possibility of lobbing a rival bid for Sydney Airport.

By way of a quick recap, last Friday a consortium of infrastructure investors had proposed a $22 billion all-cash buyout offer for Sydney Airport. The original consortium, made up by the syndicate of IFM Investors, QSuper and Global Infrastructure Partners, made the offer at $8.25 per share, a roughly 42% premium to the Airport’s closing price last Friday afternoon.

Now, according to Bloomberg, investment bank powerhouse Macquarie is said to be considering throwing its hat in the ring, reportedly structuring its own pitch to comb in investors from its stand-alone business Macquarie Infrastructure and Real Assets.

Regardless of whether the company were to match or beat the original offer, the buyout would rank as Australia’s largest-ever acquisition and would be on the podium as one of the largest airport transactions ever recorded.

Macquarie, which holds $562 billion in assets under management at the time of writing, may also consider joining the original consortium trio if the rival bid fails to convert, Bloomberg reported.

The Macquarie share price jumped in early trading this morning, reaching an intraday high of $157.87 around midday, before making the walk south into negative territory and then recovering to its closing level in the green.

Today’s results extend the gains for Macquarie shares over the past 12 months, which have posted a return of ~29% over this period.

What does this mean for Sydney Airport?

Shares in the airport operator catapulted from the market open today, jumping from $7.61 straight up to $7.88 in the first 30 minutes of trading.

After that, Sydney Airport shares largely traded sideways, with little volatility, finishing the day 2.89% higher.

Sydney Airport shares also saw a huge swing to the upside on Monday this week when the buyout offer was first announced.

Immediately following Monday’s open, the company’s shares skyrocketed 37% into the green, and have extended these gains today.

Monday’s extreme share price action can be clearly seen on the 3-month chart below.

Chart Source: The Motley Fool

Foolish takeaway

The Sydney Airport share price continues to remain under the magnifying glass, now that this potential new bidding war has surfaced.

Macquarie Group is reportedly still in the process of considering an offer, while the original offer of $22 billion in cash or $8.25 per share remains firmly on the table from the original consortium.

The Macquarie share price continues in the green over the past week, finishing up 0.14% at today’s close on the previous 5 days.

At the current market price, shares in Sydney Airport are still trading at a discount of ~5% to the original offer of $8.25 per share.

The post Macquarie (ASX:MQG) share price up amid news of rival bid for Sydney Airport appeared first on The Motley Fool Australia.

More reading

• Why the Sydney Airport (ASX:SYD) share price flew higher again today
• ASX 200 rises, Macquarie up, Rural Funds launches capital raising
• ASX 200 midday update: Zip rockets, AMP asset sale
• Is the Macquarie (ASX:MQG) share price a buy for dividends?
• AMP (ASX:AMP) share price in focus after Macquarie (ASX:MQG) asset sale agreement

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The National Australia Bank Ltd (ASX: NAB) share price has been a positive performer in 2021.

Since the start of the year, the banking giant’s shares have climbed a sizeable 14%.

Where next for NAB shares?

Although the NAB share price is up 14% in 2021, one leading broker believes there’s still room for its shares to run higher. That broker is Goldman Sachs. In fact, it currently has NAB shares on its conviction list. According to a recent note, the broker has a conviction buy rating and NAB share price target of $29.97.

Based on the current NAB share price of $26.21, this implies potential upside of 14% over the next 12 months.

In addition to this, the broker is expecting the NAB dividend in 2021 to be on the generous side. Goldman is forecasting a fully franked dividend of $1.24 per share. This represents a yield of 4.7%, which extends the potential return to a total of ~19%.

Goldman commented: “We reiterate our Buy (on CL) on NAB and it remains our preferred sector exposure given: i) NAB’s cost management initiatives, which seem further progressed relative to peers, should therefore drive productivity benefits sooner; ii) NAB’s position as the largest business bank, we believe it will be a bigger beneficiary of the continued economic recovery (management highlighting improving volumes momentum across the franchise, in particular SME); iii) versus peers, NAB, on a pro-forma basis, is well capitalised (it has significant buffer over target CET1 range of 10.75-11.25%), looks well positioned for capital management.”

Is anyone else bullish on the NAB share price?

Another broker that is on the bullish side is Credit Suisse. Its analysts currently have an outperform rating and NAB share price target of $27.50.

However, unlike Goldman Sachs’s NAB share price target, this only implies potential upside of 5% over the next 12 months. Though, with Credit Suisse forecasting the NAB dividend in 2021 to be $1.26 per share, the potential return stretches to 10%.

A third opinion

Finally, analysts at Citi are sitting on the fence with NAB shares. Its analysts currently have a neutral rating and $26.25 NAB share price target. This is broadly in line with where NAB shares are trading today.

In respect to the NAB dividend in 2021, Citi has pencilled in a $1.20 per share fully franked dividend. This represents a 4.6% dividend yield based on the latest NAB share price.

Citi was disappointed with recent anti-money laundering (AML) compliance news. That news reveals that AUSTRAC has launched an enforcement investigation into NAB’s compliance with AML regulations.

It commented: “Despite almost 4 years of rectification work, at a cost of ~$800m, NAB has continued to report non-compliance issues to regulators concerning their processes, procedures and documentation. We expect NAB will likely be forced to re-prioritise these rectifications under a new AUSTRAC-led timetable. Whilst we are not expecting civil penalties as this stage, higher operating cost growth must be inevitable to meet the regulator’s expectations.”

Time will tell which broker makes the right call.

The post Is now a good time now to buy National Australia Bank (ASX:NAB) shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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When the S&P/ASX 200 Index (ASX: XJO) hit 7,000 points for the first time ever back in January 2020, it caused quite a stir.

Although an arbitrary threshold like 7,000 points has very little real application or value, it still provides an easy rally point for investors’ psychology. A similar, although perhaps not quite as large, a stir also happened when the ASX 200 once again finally found 7,000 points back in April.

Following this, the ASX 200 then breached 7,100 points, followed by 7,200 and 7,300, followed finally by 7,400 points over the past few months.

How much higher can it go? That might be what many an investor is asking. Well, one fund manager thinks the runway isn’t ending soon. According to a report in the Australian Financial Review (AFR) today, global investment manager Research Affiliates is expecting the ASX 200 to push past 8,000 points by the end of the year, and outperform other global markets to boot.

The source of this optimism? Commodity prices. Here’s some of what Mike Aked, director of research at Research Affiliates, had to say:

We would expect that Australian resource companies are much more likely to drive our local market higher over the second half … possibly rising to as high as 8000 given the momentum in commodity prices… Resource companies are well positioned to take this lead as news of domestic and global inflation should continue to rattle markets until the end of 2021.

Miners to push ASX 200 above 8,000 points?

Commodity prices are indeed at record levels. Iron ore is still stubborn above the sky-high US$200 a tonne mark, despite various predictions of a return to ‘normal’ levels.

Oil is back above US$70 a barrel, and copper prices are also at historical highs. This has pushed the ASX 200’s big miners such as BHP Group Ltd (ASX: BHP) to new highs in recent months. 

Even gold is remaining resolutely above US$1,700 an ounce. Sure, that’s still not at the highs above US$2,000 an ounce that we saw last year. However, it’s still very high relative to its (long) history.

Aked is also looking to ASX 200 resources shares as a hedge against the possibility of future inflation, a bugbear for ASX investors. Here’s some of what he had to say on that topic:

While we do not know what the remainder of 2021 will bring, investing in a portfolio of cheap resource names that are positioned well for rising inflation seems a more robust investment strategy than investing in expensive financials, which will need continued property price increases to justify their price.

There you go, out with the banks, in with the miners, at least according to Aked. Eight thousand points by the end of the year (or a 9% rise from today’s levels)… it’s a bold claim. But most ASX investors would probably be pretty happy if it turns out to be right.

The post Can the ASX 200 hit 8,000 points by the end of the year? appeared first on The Motley Fool Australia.

More reading

• Here are 3 of the ASX 200’s most heavily traded shares today
• ASX 200 rises, Macquarie up, Rural Funds launches capital raising
• Mining shares in the ASX 200 might unearth US$26b worth of dividends
• The BHP Group share price is rising again — so where to from here?
• The 5 best performing ASX healthcare shares of FY21, did yours make the cut?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is enjoying a healthy day in the green today. At the time of writing, the ASX 200 is currently up 0.23% to 7,344 points. But let’s take a look at which ASX 200 shares are being the most heavily traded today:

3 of the ASX 200’s most heavily traded shares today

Pilbara Minerals Ltd (ASX: PLS)

Lithium miner Pilbara Minerals is never too far from the podium with this list, and today is no exception. A robust 12.34 million Pilbara shares have swapped hands so far today, making it the third-most traded ASX 200 on the markets. There has been no official news or announcements out of Pilbara this Thursday. However, saying that the Pilbara share price is having a fantastic day today. It’s currently up a very healthy 2.68% so far today to $1.53 a share. That’s just inches away from its all-time high of $1.60. It’s therefore likely that this rise in the value of Pilbara shares today is behind the heavy trading volume we are seeing.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

Sydney Airport has been flying around the ASX 200 boards all week this week, and is doing so again today. At the time of writing, 14.37 million SYD shares have found a new home (or two) so far. The big news on Sydney Airport this week is of course the takeover offer lobbed its way on Monday. This resulted in a 35% boost to this company’s share price at the time. And today, Sydney Airport shares are up again, this time by a very enthusiastic 3.02% to $7.84. It’s this excitement and moves upwards today that is probably behind the relatively large number of Sydney Airport shares trading this Thursday.

Zip Co Ltd (ASX: Z1P)

Zip Co is the winner of the most traded ASX 200 shares today, with a very hefty 29 million shares having traded hands so far. This one is easily explainable. Zip shares are up a whopping 15.8% so far today and are sitting at $8.94 a share at the time of writing, well above the $7.73 they closed at yesterday. The catalyst for this great leap upwards? News that fellow BNPL provider and Swedish company Klarna has acquired a 4% stake in Zip. Klarna is a giant of the BNPL space, with a value of US$45.6 billion by its latest funding round. It also has the backing of several large investors, including Japan’s famous SoftBank. With such a dramatic show of support, it’s no wonder ASX 200 investors are fighting over Zip shares today.

The post Here are 3 of the ASX 200’s most heavily traded shares today appeared first on The Motley Fool Australia.

More reading

• Why the Sydney Airport (ASX:SYD) share price flew higher again today
• ASX 200 rises, Macquarie up, Rural Funds launches capital raising
• The 5 best performing ASX healthcare shares of FY21, did yours make the cut?
• Why Alkane, Audinate, Megaport, & Zip shares are rising today
• ASX 200 midday update: Zip rockets, AMP asset sale

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Nearmap Ltd (ASX: NEA) share price was one of the stronger performers on the ASX today. By market close, Nearmap shares were trading 6.56% higher at $2.03.

This means that over the past month, the aerial imagery specialist’s shares have gained more than 15% after being heavily sold off in May.

With no news out of the company today, we take a closer look at what could be pushing Nearmap shares higher lately.

Quick take on Nearmap

Founded in 2007, Nearmap is an Australian aerial technology and location data company. The group provides high-resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools to its many customers.

Nearmap operates in Australia and New Zealand, as well as the United States and Canada.

How is Nearmap performing?

Nearmap’s last financial update came after market close on 4 May and revealed it had increased its annual contract value (ACV) guidance. Investors were pleased with the company’s forecast ACV of between $128 million to $132 million, sending the Nearmap share price shooting around 15% higher the following day. But later that day, Nearmap shares were placed in a trading halt pending a further announcement.

On the morning of 6 May, Nearmap advised the market it had become aware of a complaint from the United States District Court. The complaint alleged that Nearmap’s US subsidiary had infringed on a competitor’s roof-estimation technology. However, Nearmap said that the allegations were without merit and that it takes intellectual property rights and patent protection seriously.

The concerning news sent shockwaves through the Nearmap share price, which plummeted to a 52-week low of $1.62 over the following couple of weeks.

Since then, the company has been on a quiet front, with investors slowly pushing Nearmap shares back to around their March levels.

A broker note also came from Citi in the middle of May indicating a price target of $2.00 for Nearmap shares. It seems shareholders are largely valuing the company in line with the global investment bank’s consensus.

About the Nearmap share price

Nearmap has faced a turbulent couple of months, leading its shares to record a 15% loss over the past 12 months. At current, the company’s share price is sitting within the lower end of its 52-week range of $1.62 to $3.22.

On valuation grounds, Nearmap commands a market capitalisation of roughly $1 billion, with more than 496 million shares on issue.

The post Nearmap (ASX:NEA) share price continues to rise, up 7% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras owns shares of Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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After several tumultuous months of trading, the Nuix Ltd (ASX: NXL) share price is showing glimmers of hope. At the end of trading today, shares in the investigative data analytics software company were up 9.47% to $2.66.

With no news out from the company today, we look back through recent activity to understand where investors might be sourcing their change of heart from.

New management, who dis?

The embattled software company has been caught in a whirlwind of allegations following its listing on the ASX. A flurry of earnings downgrades rose some eyebrows, and from there it has been all downhill.

After much controversy, it was announced last month that both the chief executive officer (CEO) and chief financial officer (CFO) would be bidding farewell.

Ordinarily, investors would be concerned with a change of leadership. However, given the circumstances for Nuix, it might be providing a change in sentiment.

The spot of CFO has been temporarily filled by former Star Entertainment Group CFO, Chad Barton. However, CEO Rod Vawdrey remains in his role until a suitable replacement is found.

From bad to worse

The feeling of relief for investors was all but momentary. Shortly after the leadership transition news, it was reported the company’s Sydney office had been raided by law enforcement. As you might have suspected, the Nuix share price didn’t fare too well on this revelation.

According to reports, the Australian Federal Police (AFP) issued a warrant which was tied to the apprehension of documents relating to an individual’s affairs. Nuix stated the event had nothing to do with the company itself.

Following on from that, authorities revealed late last month its investigations into alleged insider trading. The individual at the centre of the investigation is the recently resigned CFO, Stephen Doyle, and his family.

The court papers show the brothers are accused of trading Nuix shares with knowledge of inside information over January and February this year, as The Sydney Morning Herald first reported.

Well, why the Nuix share price resurgence?

Often there’s a level of increased volatility when share prices sink to lows. Speculators might come in with the perspective of a turnaround story, others may simply see ‘value’ at these lower levels.

The other aspect to consider is short selling. While all hell is breaking loose, which has been the case in the past for Nuix, it garners the interest of short sellers. But with things quieting down, short sellers might be taking some profits by buying back Nuix shares. As a consequence, the share price is pushed higher.

Lastly, a notice filed yesterday shows UBS Asset Management increased its shareholding in the company on 5 July 2021. Specifically, the asset manager increased its holdings from 16,679,953 shares to 20,625,110.

The post The Nuix (ASX:NXL) share price grew 9% today. So what happened? appeared first on The Motley Fool Australia.

More reading

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• Here are the 3 most traded ASX 200 shares on the market today
• Why the Nuix (ASX:NXL) share price crashed 20% lower in June

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Fortescue Metals Group Limited (ASX: FMG) has been underperforming the ASX 200 index in 2021, with the Fortescue share price falling 4% so far this year.

In light of this, investors will no doubt be interested to know if analysts think the Fortescue share price performance will improve in the future.

What are leading brokers saying about the Fortescue share price?

Opinion is largely divided on where Fortescue’s shares will be heading from here.

However, one thing that almost all analysts are in agreement with, is that the Fortescue dividend in 2021 will be big.

Where are its shares heading?

Let’s start with the Fortescue share price. Among the most bullish brokers out there are the team at Macquarie.

Last month Macquarie retained its outperform rating and held firm with its Fortescue share price target of $27.00. Based on the current Fortescue share price of $23.71, this implies potential upside of 14% over the next 12 months. Macquarie is expecting a strong full year result from Fortescue in FY 2021 thanks to sky high iron ore prices.

One broker that feels the Fortescue share price is about fair value at the current level is Citi. Its analysts currently have a hold rating and a Fortescue share price target of $23.96. This means only limited upside for the miner’s shares over the next 12 months.

Finally, the team at Goldman Sachs feel that Fortescue shares are now overvalued. The broker currently has a sell rating and $18.20 share price target. This implies potential downside of ~18% over the next 12 months. It is bearish due to its valuation, the widening of low grade iron ore discounts, and elevated capital expenditure. In respect to its valuation, Goldman commented: “The stock is trading at 1.6x NAV vs. BHP and RIO at c. 1x NAV, and 9x FY23 EBITDA when iron ore is back at the US$80-90/t level vs. BHP and RIO on c. 5x FY23.”

Fortescue dividend in 2021

The good news for income investors is that the Fortescue dividend in 2021 is tipped to be among the biggest you’ll find on the ASX 200.

Macquarie currently estimates that Fortescue will pay a fully franked $3.45 per share dividend, Citi is forecasting a $4.04 per share dividend, and Goldman has pencilled in a $3.18 per share dividend.

Based on the current Fortescue share price, this will mean yields of 14.5%, 17%, and 13.4%, respectively.

Commenting on the Fortescue dividend, Citi said: “Our FY21 dividend increases 4% to A404cps, inclusive of a fully franked final dividend payment of A257cps, a 10.4% yield on its own.”

The post What are leading brokers saying about the Fortescue (ASX:FMG) share price in July 2021? appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Sydney Airport Holdings Pty Ltd (ASX: SYD) share price flew higher again today, up 2.89% at market close.

Today’s gains follow the spectacular 34% leap on Monday by the time the closing bell rang.

What’s lifting the Sydney Airport share price?

At a time when COVID-19 variants are dominating the news – with renewed lockdowns coming into place around the world, including Sydney itself – Sydney Airport’s surge this week may seem counterintuitive.

That is until you dig into the huge institutional investor interest in the pandemic addled company.

On Monday news broke that a group of big-name investors, namely IFM Investors, Global Infrastructure Management and QSuper, offered $8.25 per share to buyout the airport. The all-cash offer values the company at $22.6 billion, not including roughly $10 billion in debt the group of investors would also need to stump up for.

The Sydney Airport share price leapt 37% on open, before closing Monday up 34%.

At the current price of $7.85 per share, Sydney Airport is still trading almost 5% below the takeover offer price.

Yet it’s unlikely the Board will recommend shareholders back the proposal, after the company already responded that the offer of $8.25 per share is materially below the $8.86 per share it was trading for in January 2020 before COVID shuttered much of its operations.

Rival offers in the pipeline

News out today that another consortium led by Macquarie Group Ltd (ASX: MQG) may offer a counter bid has likely put another tailwind behind the Sydney Airport share price.

According to the Australian Financial Review (which quoted people familiar with the matter):

Macquarie has been speaking with potential partners, including local pension funds, about making a joint offer… Macquarie may also use some of its own capital for the deal and could seek to rope in some of the MIRA funds’ investors to join the consortium.

Whether Macquarie comes through with a superior offer, and how this all plays out, remains to be seen.

But with some market veterans, including Hamilton Lane’s CEO Mario Giannini, expecting a raft more ASX shares to receive takeover offers, the Sydney Airport share price may not be the only one to enjoy a big boost this year.

The post Why the Sydney Airport (ASX:SYD) share price flew higher again today appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, Macquarie up, Rural Funds launches capital raising
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• Is the Macquarie (ASX:MQG) share price a buy for dividends?
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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Ramsay Health Care Limited (ASX: RHC) finished in the green today despite the company facing delays to an ongoing acquisition proposal. The Ramsay share price closed up 1.34%, with shares in the private hospital operator trading for $64.39 apiece.

Let’s take a look at the latest news of the ongoing acquisition.

The latest on Ramsay’s acquisition

Today, Ramsay announced the shareholder vote for its proposed acquisition of UK-based private hospital operator Spire Healthcare has been pushed back a week. It will now take place on 19 July.

The Ramsay share price hasn’t noticeably reacted to today’s news.

The delay follows news Ramsay increased its cash offer for Squire yesterday. It also comes amid rumours members of Spire Healthcare’s board are against the acquisition.

Yesterday, Ramsay announced it has upped its acquisition offer by 10 pence to 250 pence per Spire Healthcare share. However, a shareholder’s vote needs to take place before the acquisition can go before a court hearing.

The court hearing is the final step Ramsay needs to pass before acquiring Spire Healthcare. It will now take place on 22 July.

Other news on Ramsay’s acquisition was published by The Australian today.

The publication claimed 2 of Spire Healthcare’s shareholders, Toscafund and Fidelity, who respectively hold 5.5% and 8.8% of Spire Healthcare’s outstanding shares, vehemently oppose the acquisition.

Toscafund’s CEO reportedly believes Ramsay’s offer undervalues Spire Healthcare.

Additionally, both companies supposedly opposing the acquisition have recently sold stakes in the UK’s Circle Health for a combined $3.5 billion. According to The Australian, they plan to spend some of the cash to battle Ramsay’s bid.

Ramsay needs the approval of at least 75% of Spire Healthcare’s shareholders to go ahead with the acquisition. It currently holds 30% of Spire Healthcare’s shares.

Ramsay Health Care share price snapshot

With today’s gains included, the Ramsay share price has grown 2.7% in 2021. It has also gained 1.9% since this time last year.

The company has a market capitalisation of around $14.4 billion, with approximately 228 million shares outstanding.

The post What was up with the Ramsay Health Care (ASX:RHC) share price today? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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