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Neogen Announces Sale of Cleaners & Disinfectants Business

1. Neogen sells cleaners business to Kersia for $130 million, enhancing margins. 2. The deal includes future performance-based contingent payments.

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FAQ

Why Bullish?

The sale may improve NEOG's financial flexibility, similar to past divestitures leading to stock growth.

How important is it?

The strategic sale signals potential for improved operations and investor confidence, crucial for NEOG.

Why Short Term?

Immediate cash inflow will positively impact NEOG's balance sheet and investor sentiment.

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KRSYA
LANSING, Mich.--(BUSINESS WIRE)--Neogen Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, announced today it has entered into a definitive agreement to sell its global cleaners and disinfectants business to Kersia Group (“Kersia”), a global leader in biosecurity, disinfection and hygiene solutions, for $130 million in cash at closing plus contingent consideration tied to the future performance of the business. The transaction is expected to be accretive to margins and c.

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