Filing Flows › Cooper Companies (COO) › Takeover & LBO
Is Cooper Companies (COO) a takeover target?
A leveraged buyout at today's price plus 30% ($77.41 a share) would return about 0% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $39.81 a share (−33% against today's $59.55). Historically 2.1% of companies with its figures were bought within a year (0.41× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $77.41 | today's $59.55 plus 30% |
| × shares | 193.4 million | |
| = Equity value | $15.0B | |
| + Debt refinanced | $2.5B | |
| − Cash | $155M | |
| + Other claims | $200K | preferred stock, minority interests |
| = Enterprise value | $17.4B | 18.7× EBITDA of $928M |
| Fees | $347M | 2% of the price |
| New debt | $5.1B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $12.6B | 71% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $4.4B | $972M | $391M | $168M | $4.9B |
| Year 2 | $4.6B | $1.0B | $378M | $203M | $4.7B |
| Year 3 | $4.8B | $1.1B | $362M | $239M | $4.5B |
| Year 4 | $5.0B | $1.1B | $344M | $276M | $4.2B |
| Year 5 | $5.1B | $1.1B | $323M | $315M | $3.9B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 15.0× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $16.8B | |
| − Debt left | $3.9B | |
| = Buyer's equity | $12.9B | |
| Money multiple | 1.02× | on $12.6B put in |
| Buyer's yearly return (IRR) | 0.5% |
Price against return
What the buyer makes at other premiums over today's $59.55; the IRR reaches 20% at $39.81 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $65.50 | 4.7% |
| 20% | $71.46 | 2.5% |
| 30% | $77.41 | 0.5% |
| 40% | $83.37 | −1.3% |
| 50% | $89.32 | −2.9% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $4.2B | |
| EBITDA, last 12 months | $928M | 21.9% of revenue |
| Depreciation and amortization | $384M | |
| Capital spending | $355M | |
| Debt | $2.5B | |
| Cash | $155M | |
| Share price | $59.55 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 4.7% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cooper Companies would cost about $80.39 a share, $15.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $72.65 | $14.1B |
| Median | 35% | $80.39 | $15.5B |
| High end (a quarter paid more) | 45% | $86.35 | $16.7B |
The odds, from history
Historically 2.1% of companies with its figures were bought within a year (0.41× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Cooper Companies' latest quarter
Cooper Companies, Q3 FY26: revenue $1.1B (+0.6% year over year), operating margin 20.8%, net earnings $433M, operating cash flow $342M. The chart follows the revenue to costs, profit and cash.
Questions
Is Cooper Companies being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Cooper Companies?
A leveraged buyout at today's price plus 30% ($77.41 a share) would return about 0% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $39.81 a share (−33% against today's $59.55).
What would a takeover of Cooper Companies cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cooper Companies would cost about $80.39 a share, $15.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.