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Stock Market & Financial Investment News

News Breaks
March 20, 2013
07:37 EDTABTThe FDA Circulatory Systems Devices Panel holds a meeting
The Committee discusses, make recommendations, and votes on information related to the pre-market approval application for the MitraClip Delivery System sponsored by Abbott Vascular in a meeting being held in Gaithersburg, Maryland on March 20 at 8 am. Webcast Link
News For ABT From The Last 14 Days
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September 26, 2014
09:01 EDTABTAbbott completes CFR Pharmaceuticals acquisition
Abbott has acquired control of CFR Pharmaceuticals, doubling its Latin American branded generics pharmaceutical presence and further expanding the company's presence in fast-growing markets. Through purchase of the controlling interest and tender offers described below, Abbott indirectly acquired more than 99% of CFR's ordinary shares for approximately $2.9B. The CFR acquisition immediately establishes Abbott among the top 10 pharmaceutical companies in Latin America, a market that is expected to reach $124B by 2018, with estimated annual growth rates of two to three times that of developed markets over the coming years, according to IMS. This transaction will not impact Abbott's ongoing earnings-per-share guidance for 2014. Abbott anticipates this transaction to be accretive to ongoing earnings per share in 2015 and increasing thereafter, before one-time transaction-related items which will be provided at a later date.
September 24, 2014
09:03 EDTABTAbbott's U.S. tender offer for Chile's CFR Pharmaceuticals expired
Abbott announced the expiration of the tender offer for the purchase from U.S. holders of the ordinary shares of CFR Pharmaceuticals S.A., a Chilean corporation, and for the purchase from all holders, wherever resident, of CFR's outstanding ADS. The offer expired at 5 p.m., NYC time, on Sept. 23, and was not extended. A Chilean tender offer for CFR ordinary shares, which was made concurrently with the U.S. offer, expired at 5:30 p.m., Chilean time, on Sept. 23, and was not extended. The results of the U.S. offer will be announced on Sept. 26, at the time the results of the Chilean tender offer for CFR ordinary shares are announced.
06:23 EDTABTExperts see new tax rules not halting inversions, WSJ reports
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September 23, 2014
10:54 EDTABTStocks, analysts react to Treasury inversion crackdown
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09:13 EDTABTOn The Fly: Pre-market Movers
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08:53 EDTABTInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
06:28 EDTABTTreasury rules may put Mylan deal at risk, says BMO Capital
BMO Capital believes Treasury's new inversion rules may put the tax benefits of Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business at risk. BMO also thinks the rules impact Salix's (SLXP) pending deal for Cosmo Pharmaceuticals, which it feels may help make a deal with Allergan (AGN) more likely.
05:56 EDTABTTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
07:06 EDTABTAbbott price target raised to $48 from $44 at RBC Capital
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September 19, 2014
11:25 EDTABTSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" – settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldn’t get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 16, 2014
11:51 EDTABTOECD looks to close tax loopholes with new proposals
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