Kimberly-Clark to sell PPE business to Ansell
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 8 April 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, April 8th. I'm Julie Morgan. |
| 0:12.0 | Kimberly Clark is getting rid of its pea-e. April 8th, I'm Julie Morgan. |
| 0:12.7 | Kimberly Clark is getting rid of its PPE business. |
| 0:16.1 | Tesla reveals plans to unveil the robot taxi, |
| 0:19.7 | and the People's Bank of China has a new re-lending program. |
| 0:24.4 | Kimberly Clark is selling its personal protective equipment business to Australia's |
| 0:29.1 | and sell for $640 million in cash. |
| 0:32.4 | The unit designs, markets, and sells gloves, |
| 0:35.5 | eyewear, and other apparel under the Kim Tech |
| 0:38.4 | and Clean Guard brands. |
| 0:40.3 | For Kimberly Clark, the deal is part of its plan to reorganize its business and overhaul its supply chain in a bid to rein in costs and streamline operations. |
| 0:50.0 | For Ansell, the acquisition provides an opportunity to double down on its PPE business and create savings through building a larger business. |
| 0:59.0 | According to a report, Ansel will raise as much as $306 million to fund the deal and take on |
| 1:06.0 | 377 million in additional debt. Tesla plans to hold a robot taxi reveal event on August 8th. |
| 1:14.6 | CEO Elon Musk made the announcement in a tweet on X on Friday. |
| 1:19.3 | The Senate announcement came on the same day that a disputed report indicated that |
| 1:24.1 | Tesla had cancelled plans to develop the model two, which has been highlighted as a |
| 1:29.5 | vehicle that could be sold to the mass market. Multiple sources told Reuters that Tesla that platform as was being considered for the model two. |
| 1:43.4 | Elon Musk claimed as far back as 2019 that a Tesla |
| 1:46.9 | robot taxi fleet was only one year away, |
| 1:49.7 | but the company has gone through various software |
... |
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