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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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July 14, 2014
08:36 EDTMYL, ABTMylan accretive tax inversion deal makes sense, says UBS
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08:27 EDTABT, MYLMylan sees Abbott transaction to be 'immediately and significantly accretive'
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08:26 EDTMYL, ABTMylan sees $10B in pro forma 2014 sales after closing Abbott deal
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08:13 EDTVRX, AGNAllergan reiterates belief that Valeant model unsustainable in new presentation
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08:12 EDTABT, MYLMylan says Abbott deal 'first in series' of planned transactions
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08:02 EDTVRX, AGNValeant submits HSR filing for proposed acquisition of Allergan
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07:28 EDTMYL, ABTMylan to host conference call
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07:20 EDTABT, MYLAbbott to host conference call
Conference call to discuss agreement to sell developed markets branded generics pharmaceuticals business to Mylan will be held on July 14 at 9:30 am. Webcast Link
06:54 EDTMYLWhiting Petroleum volatility expected to move on acquisition of Kodiak Oil & Gas
Whiting Petroleum (WLL) option implied volatility is expected to move on the acquisition of Kodiak Oil & Gas (KOG) in an all-stock transaction valued at $6B. Overall option implied volatility of 31 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:33 EDTABT, MYLAbbott to sell developed markets generics pharmaceuticals business to Mylan
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06:33 EDTMYL, ABTMylan to acquire Abbott assets in all-stock transaction valued at about $5.3B
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06:31 EDTABT, MYLAbbott to sell developed markets generics pharmaceuticals business to Mylan
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July 13, 2014
20:22 EDTABT, MYLMylan near buying Europe-based drug portfolio from Abbott, Reuters says
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July 11, 2014
16:48 EDTVRX, AGNAllergan comments on Pershing Square’s definitive proxy solicitation
Allergan (AGN) provided the following comment in response to the definitive proxy solicitation filed by Pershing Square Capital Management in connection with Pershing Square’s request to call a Special Meeting of Stockholders. At the Special Meeting, if called, Allergan stockholders would be asked to remove a majority of the company’s existing directors in connection with Valeant Pharmaceuticals' (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, or subject to proration, an amount of cash or a number of Valeant common shares with the implied value set forth in the exchange offer. Under the current Board’s leadership, which includes individuals with significantly more industry experience than Pershing Square’s recommended nominees, Allergan continues to execute on its plan to drive near- and long-term organic growth, enhance its growth prospects and continue generating significant value for all of Allergan’s stockholders. We believe Pershing Square’s attempt to replace a majority of the Allergan Board is a further effort to support Valeant in its bid to acquire Allergan at a grossly inadequate price that substantially undervalues the company and creates significant risks and uncertainties for Allergan stockholders. Valeant has repeatedly failed to address the serious concerns raised by Allergan and important members of the investment community about Valeant’s anemic organic growth driven by unsustainable price increases, among other fundamental business model issues. Allergan has a track record of consistently acting in the best interests of its stockholders and the Board remains confident in the company’s ability to create significantly more value than Valeant’s proposal.
11:54 EDTAGNAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
July 10, 2014
15:55 EDTABTJoint venture with Fonterra a 'smart move' for Abbott, says Wells Fargo
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14:01 EDTABTAbbott and Fonterra to form strategic alliance for dairy farming in China
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09:31 EDTVRXNestle acquires rights to aesthetic dermatology products in the U.S. and Canada
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09:31 EDTVRXValeant completes filler, toxin asset sale to Galderma
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08:10 EDTABTMorgan Stanley's Vintage Values 2015 list selected
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