Filing Flows › Haemonetics (HAE) › Takeover & LBO
Is Haemonetics (HAE) a takeover target?
A leveraged buyout at today's price plus 30% ($155.95 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 $71.89 a share (−40% against today's $119.96). Historically 5.6% of companies with its figures were bought within a year (1.11× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $155.95 | today's $119.96 plus 30% |
| × shares | 46.5 million | |
| = Equity value | $7.2B | |
| + Debt refinanced | $1.1B | |
| − Cash | $261M | |
| = Enterprise value | $8.1B | 28.3× EBITDA of $287M |
| Fees | $162M | 2% of the price |
| New debt | $1.6B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $6.7B | 81% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $1.4B | $298M | $121M | $106M | $1.5B |
| Year 2 | $1.5B | $310M | $112M | $120M | $1.3B |
| Year 3 | $1.5B | $321M | $103M | $135M | $1.2B |
| Year 4 | $1.6B | $331M | $92.9M | $149M | $1.1B |
| Year 5 | $1.6B | $341M | $81.5M | $165M | $901M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 22.5× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $7.7B | |
| − Debt left | $901M | |
| = Buyer's equity | $6.8B | |
| Money multiple | 1.01× | on $6.7B put in |
| Buyer's yearly return (IRR) | 0.2% |
Price against return
What the buyer makes at other premiums over today's $119.96; the IRR reaches 20% at $71.89 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $131.96 | 4.0% |
| 20% | $143.95 | 2.0% |
| 30% | $155.95 | 0.2% |
| 40% | $167.94 | −1.4% |
| 50% | $179.94 | −2.9% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $1.4B | |
| EBITDA, last 12 months | $287M | 20.7% of revenue |
| Depreciation and amortization | $110M | |
| Capital spending | $46.7M | |
| Debt | $1.1B | |
| Cash | $261M | |
| Share price | $119.96 | on Nov 6, 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 4.1% 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 27% 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, Haemonetics would cost about $161.95 a share, $7.5B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $146.35 | $6.8B |
| Median | 35% | $161.95 | $7.5B |
| High end (a quarter paid more) | 45% | $173.94 | $8.1B |
The odds, from history
Historically 5.6% of companies with its figures were bought within a year (1.11× the average). Its figures put it in decile 7 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.
Haemonetics' latest quarter
Haemonetics, Q2 FY27: revenue $358M (+9% year over year), operating margin 21.0%, net earnings $46.3M, operating cash flow $128M. The chart follows the revenue to costs, profit and cash.
Questions
Is Haemonetics being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Haemonetics?
A leveraged buyout at today's price plus 30% ($155.95 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 $71.89 a share (−40% against today's $119.96).
What would a takeover of Haemonetics 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, Haemonetics would cost about $161.95 a share, $7.5B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.