Charles River Laboratories International, Inc. · NYSE:CRL
Charles River Laboratories International — Merger or Acquisition (July 2010)
7 slides from Charles River Laboratories International's merger presentation, Jul 21, 2010
Slide 1: Safe Harbor Statement
Safe Harbor Statement This document includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "projec
Slide 2: Non-GAAP Financial Measures and Additional Information
Non-GAAP Financial Measures This presentation includes discussion of non-GAAP financial measures. We believe that the inclusion of these non-GAAP financial measures provides useful information to allow investors to gain a meaningful understanding of our core operating results and future prospects, w
Slide 3: The Value of Synergies is Greater than the Premium Paid for WuXi
The Value of Synergies is Greater than the Premium Paid for WuXi Note: All values rounded to nearest $5mm (1) Based on 28% premium paid on WuXi share price of $16.57 as of 4/23/10 (2) Based on midpoint of J.P. Morgan standalone DCF for WuXi in section entitled "Opinion of Charles River's Financial A
Slide 4: The Purchase Price is Attractive on a PEG Ratio Basis
The Purchase Price is Attractive on a PEG Ratio Basis Note: Current purchase price as of 7/16/10 assuming CRL stock price of $34.12, exchange ratio at high end of collar (0.2688x), and 75.5 fully-diluted WX shares outstanding (1) ______ WX non-GAAP EPS based on Wall Street research average as of 4/2
Slide 5: Proposed Transaction with WuXi Will Significantly Improve Charles River's Revenue Growth and Margins
Proposed Transaction with WuXi Will Significantly Improve Charles River's Revenue Growth and Margins (1) Based on WuXi unaudited prospective financial information of revenue and adjusted non-GAAP operating income as disclosed on page 53 of CRL definitive proxy filed 7/1/10, less estimated stock comp
Slide 6: The Transaction Adds Meaningfully to CRL's Standalone Long-Term Earnings Growth
The Transaction Adds Meaningfully to CRL's Standalone Long-Term Earnings Growth (1) Scenarios assume CRL revenues and EPS grow at 0%, 5% and 10% annual rate, respectively, from 2009A levels; EBITDA and EBITA margins constant at 2009 levels; capex and net working capital forecast at 2009 percentage o
Slide 7: The Transaction Adds Meaningfully to CRL's Standalone Long-Term Earnings Growth
The Transaction Adds Meaningfully to CRL’s Standalone Long-Term Earnings Growth CRL Standalone, Status Quo (™ CRL, with WuXi Acquisition (2) BIB AISEEPS ‘$6.00 5.0% rr CRL Standalone, with Stock Repurchase (**) So 200002015 EPS ‘CAGR_A to Standalone | $6.00 106% 5.6% i 00 $0.00 20098, 2015E Stak rep
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