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Stock Market & Financial Investment News

News Breaks
May 13, 2014
14:11 EDTAGN, VRXPershing Square calls for shareholder referendum on Allergan, Valeant talks
Earlier today, in a regulatory filing, Pershing Square Capital Management calls for a meeting to conduct a shareholder referendum in which shareholders of Allergan (AGN) will be given the opportunity to vote on a non-binding resolution that would request the Board to "promptly engage in good faith discussions with Valeant (VRX) regarding Valeant’s offer to merge with the company, without in any way precluding discussions the Board may choose to engage in with other parties potentially offering higher value." In afternoon trading Allergan is up 1% and Valeant Pharmaceuticals is higher by 0.20%.
News For AGN;VRX From The Last 14 Days
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March 30, 2015
09:02 EDTVRXMylan slips amid Abbott share sale, Teva deal for Auspex
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March 27, 2015
07:25 EDTVRXTeva appears to be weighing transformative deal, says Bernstein
After attending Teva's (TEVA) meeting with investors, Bernstein thinks that the company is considering making a 'transformative' acquisition, although it believes that such a deal may not be imminent. The firm sees Mylan ((MYL) and the generic units of Actavis (ACT), Pfizer (PFE), and possibly Valeant (VRX) as the four logical candidates. It says that Teva can pay $81 per share for Mylan, and that a takeover of Mylan would raise Teva's EPS to about $6.50 in 2017 and $7 in 2018. Bernstein raised its price target on Teva to $69 from $60 and keeps an Outperform rating on the shares.
March 26, 2015
10:45 EDTVRXSynergy discussing possible sale with advisers, Bloomberg reports
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March 25, 2015
12:58 EDTVRXPershing Square raises stake in Valeant, says will discuss acquisitions
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11:59 EDTVRXPershing Square reports 5.7% stake in Valeant, will continue talks
Pershing Square expects to conduct discussions with Valeant and other relevant parties regarding strategic acquisitions by or joint ventures with the company, or other similar arrangements. These discussions would be exploratory in nature and there is no assurance that they would lead to a definitive transaction.
March 24, 2015
13:24 EDTVRXContact lens manufacturers accused of price-fixing, Bloomberg says
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March 23, 2015
16:14 EDTAGNPershing Square liquidates stake in Allergan
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09:03 EDTAGNLeerink analysts hold a meeting with a conference call hookup
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07:51 EDTVRXValeant price target raised to $240 from $185 at Susquehanna
Susquehanna raised its price target on Valeant to $240 from $185 to reflect the addition of durable assets and the improved growth trajectory its recent deals brings to its U.S. business. Susquehanna reiterated its Positive rating on Valeant shares.
07:17 EDTVRXAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
16:33 EDTVRXStocks end week higher after market reads Fed statement as dovish
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March 18, 2015
05:45 EDTVRXSalix downgraded to Hold from Buy at Jefferies
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March 17, 2015
14:10 EDTVRXIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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09:13 EDTAGNActavis says Allergan CEO not joining combined company board
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09:01 EDTVRXValeant 7.29M share Spot Secondary priced at $199.00
Deutsche Bank acted as sole book running manager for the offering.
08:58 EDTAGNActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTAGNActavis says will 'immediately begin implementing' integration plans
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08:57 EDTAGNActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
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