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Stock Market & Financial Investment News

News Breaks
June 18, 2014
11:32 EDTAGN, VRXAllergan board to review unsolicited exchange offer from Valeant
Allergan (AGN) commented on Valeant Pharmaceuticals International's (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan. Pursuant to the Valeant exchange offer, Allergan stockholders would receive 0.83 shares of Valeant common stock and $72.00 in cash per share of common stock of the company. Allerganís Board of Directors, consistent with its fiduciary duties and together with its financial and legal advisors, will carefully review and evaluate the Exchange Offer. Allergan stockholders are advised to take no action at this time pending the review of the Exchange Offer by the Board. The company noted that it previously received and rejected a revised proposal from Valeant to acquire all of the outstanding shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, and a Contingent Value Right related to DARPin sales. Allergan announced on June 10 after thorough consideration, the Allergan Board of Directors unanimously determined that the Revised Proposal substantially undervalues Allergan, creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of Allergan and its stockholders. Goldman, Sachs & Co. and BofA Merrill Lynch are serving as financial advisors to the Company and Latham & Watkins, Richards, Layton & Finger, P.A. and Wachtell, Lipton, Rosen & Katz are serving as legal counsel to the Company.
News For AGN;VRX From The Last 14 Days
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July 21, 2014
06:34 EDTAGN, VRXCapital Research sells nearly all its Allergan stake, WSJ reports
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July 18, 2014
12:51 EDTAGN, VRXKey GOP senator signals readiness for inversion deal, The Hill says
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11:27 EDTVRX, AGNSamlyn undecided on support for Valeant bid for Allergan, Dow says
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July 17, 2014
16:45 EDTAGN, VRXPershing Square looks to obtain consents for special meeting
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10:20 EDTAGNPershing sees coming 13-Fs to show long-term Allergan holders have been selling
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09:00 EDTAGNAckman says large takeover by Allergan could be 'enormously value destructive'
08:44 EDTAGNPershing says special meeting warranted given 'poor governance' at Allergan
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08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
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07:00 EDTAGN, VRXPaulson says Allergan could be wroth $220 per share, WSJ reports
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July 16, 2014
17:46 EDTAGN, VRXAckman says he thinks Allergan-Valeant deal eventually gets done
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17:42 EDTAGN, VRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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10:36 EDTVRX, AGNTreasury calls on Congress to halt inversion deals
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10:31 EDTAGNPershing Square Capital Management holds analyst/industry conference call
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09:16 EDTAGN, VRXPershing Square sends letter to Allergan's board of directors
Pershing Square Capital Management announced it has sent a letter to Allergan's Board of Directors. Pershing Square last Friday filed definitive solicitation materials with the U.S. SEC to seek shareholder support for a special meeting of Allergan shareholders and is now actively soliciting shareholder support to call the meeting. At this special meeting, Allergan shareholders will be able to voice their opinions on a number of critical matters, including the proposed removal of six incumbent members of the Allergan board, the proposed appointment of an independent slate of directors and certain other proposed provisions to improve Allerganís corporate governance.
08:16 EDTAGN, VRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTVRX, AGNTreasury Secretary urges Congress to take action on tax inversions
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July 15, 2014
11:13 EDTAGNPerrigo retreats after analyst sees limited potential buyers
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July 14, 2014
12:47 EDTVRX, AGNAllergan slides question Valeant growth, disclosures, says BMO Capital
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08:13 EDTAGN, VRXAllergan reiterates belief that Valeant model unsustainable in new presentation
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08:02 EDTVRX, AGNValeant submits HSR filing for proposed acquisition of Allergan
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