Capital Group, a US-based investment company has bought a 5.05% stake in Egis Nyrt, the pharma company said in a statement yesterday. The purchase makes Capital Group the third-largest shareholder of Egis, behind majority owner French private pharma company Servier with 50.9% and asset manager Mark Mobius's Frankin Resources, which owns 17.0%.
Our view: He fact that big funds are gaining stake in Egis might indicate an increasing speculation on a potential buyout of Servier or other corporate action. Although short-term earnings perspectives are certainly worsened, stock price also drop substantially which could create a good opportunity for the mother company, which knows the fundamentals of the company better than minority investors.