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Stock Market & Financial Investment News

News Breaks
July 16, 2014
08:16 EDTAGN, VRX, MYL, ABTLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
BMO Capital says the environment for tax inversion deals may have just gone from "red hot to quite chilly" after Treasury Secretary Jack Lew told Congress in a letter to "shut down this abuse of our tax system." BMO advises caution around pending and recently announced mergers, such as Mylan's (MYL) planned acquisition of Abbott's (ABT) established products business announced on Monday. The firm also believes Lew's letter will be another negative for those pulling for a deal between Allergan (AGN) and Valeant (VRX).
News For AGN;VRX;MYL;ABT From The Last 14 Days
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August 20, 2014
11:44 EDTMYLMylan completes second bidding round for GSK prescription portfolio, WSJ says
Mylan (MYL), TPG Capital, Advent International, KKR (KKR), Warburg Pincus and a few Indian prescription manufacturers have completed the second round of bidding for GlaxoSmith Kline's (GSK) portfolio of mature medications, according to The Wall Street Journal, citing people familiar with the sales process. GSK noted that it aims to sell a portfolio of drug brands in the U.S. and EU with yearly sales of approximately $1.66B. Reference Link
11:33 EDTMYLMylan into second round of bidding for GSK drug portfolio, WSJ reports
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10:53 EDTAGN, VRXAnalysts say Salix takeover would boost Allergan
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09:46 EDTVRX, AGNAllergan merger deal not imminent, CNBC's Faber reports
An acquisition by Allergan (AGN) is not imminent, CNBC's David Faber reports. Salix (SLXP) and Jazz Pharmaceuticals (JAZZ) are said to be potential targets of the company, Faber adds. Valeant (VRX) could announce over the next few days that it has enough votes to call for a special meeting, the reported said.
07:19 EDTAGNPossible Allergan Salix deal could be 8% accretive in '15-'16, says Wells Fargo
After The Wall Street Journal reported that Allergan (AGN) had approached Salix (SLXP) and other companies about a potential acquisition, Wells Fargo thinks that a largely debt financed purchase of Salix could be 8% accretive for Allergan in 2015-2016, reaching 12% accretion in 2018.
07:07 EDTAGN, VRXSome Valeant shareholders express uncertainty over Allergan deal, Reuters says
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07:04 EDTAGNSalix buyout price could be near $192 per share, says William Blair
William Blair believes a combined Allergan (AGN) and Salix (SLXP) would be very attractive. The firm estimates a potential takeover price for Salix towards the high end of its $176-$192 per share range. Salix rose 16% yesterday to $160.80 after Wall Street Journal reported that Allergan approached the company and at least one other about a takeover.
August 19, 2014
17:14 EDTAGN, VRXOn The Fly: Closing Wrap
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16:52 EDTVRX, AGNAllergan all-cash deal would reduce hostile bid chances, says BMO Capital
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14:40 EDTAGNSterne Agee says Allergan could pay up to $190 for Salix and still be accretive
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13:13 EDTVRX, AGNAllergan approached Salix, one other about takeover, WSJ reports
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13:06 EDTAGNSalix jumps 6% to $147.85 after WSJ report of Allergan approach
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13:05 EDTAGNAllergan approached Salix about takeover, WSJ reports
11:44 EDTMYLMylan launches generic Precedex Injection
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August 18, 2014
15:59 EDTAGN, VRXAllergan CFO change may suggest strategic deal near, says BMO Capital
BMO Capital believes former Allergan (AGN) CFO Jeff Edwards would not be leaving if a change of control of the company, such as a takeover by Valeant (VRX), were in the future. Rather, BMO thinks Edwards' decision to leave could be a sign that a strategic transaction marking a new chapter in Allergan's growth may be nearing. The firm thinks Allergan is in capable hands with new CFO Jim Hindman and it keeps an Outperform rating on the stock with a $230 price target.
11:57 EDTAGNAllergan CFO departure largely unexpected, says Wells Fargo
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10:06 EDTMYLLannett surges after upbeat Q4, FY14 outlook
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09:02 EDTAGNAllergan names Jim Hindman as CFO, effective immediately
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09:00 EDTABTAbbott and Defense Department to develop portable blood tests
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07:57 EDTAGNCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
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