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After management poured cold water on its financial outlook, shares of Fresenius Medical Care (FMS +0.00%), the world's largest provider of dialysis products and services, plunged 17% as of 10:55 a.m. EDT on Wednesday.
Here's an overview of the financial guidance that management shared with investors today.
Image source: Getty Images.
Given the disappointing news, it isn't hard to figure out why shares are getting whacked today.
Fresenius' investors have been patiently waiting for more than a year for the company's $2 billion deal to acquire NxStage Medical (NXTM +0.00%) to go through. Since the closing of the acquisition might have helped the company to meet its financial targets, investors should hope that the deal gets finalized soon.
The latest update is that the merger agreement closing date has been extended to November of 2018. That should provide the company with enough time to complete the deal. However, should something go awry, Fresenius would owe NxStage Medical a $60 million acquisition termination fee, so the pressure is on for the company to execute.