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Investing.com -- Swatch Group AG (OTC:SWGAY), the Swiss watchmaker known for its Omega, Blancpain, and Breguet brands, is considering a potential take-private, according to its Chief Executive Officer, Nick Hayek. This move was hinted at during a media event on Wednesday, marking one of Hayek’s strongest suggestions to date about the company’s possible delisting from the stock exchange.
Following Hayek’s comments, Swatch shares experienced an uptick of up to 4.3% in Zurich. The company has been a frequent subject of speculation regarding a potential take-private, especially as its stock has been underperforming. Over the 12 months leading up to Tuesday’s close, Swatch’s shares had fallen by 18%.
Despite Hayek’s comments, it remains uncertain whether the CEO was serious about this course of action or if he was merely joking. The process of taking the company private is expected to "take time," as stated by Hayek. He expressed a "big hope" that Swatch would find someone to assist in navigating this process.
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