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Stock Market & Financial Investment News

News Breaks
June 23, 2014
08:07 EDTAGN, VRXAllergan board unanimously rejects unsolicited exchange offer from Valeant
News For AGN;VRX From The Last 14 Days
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July 17, 2014
08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
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07:00 EDTVRX, AGNPaulson 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 EDTAGN, VRXTreasury 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 EDTVRX, AGNPershing 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 Allergan’s corporate governance.
08:16 EDTAGN, VRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTAGN, VRXTreasury 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 EDTAGN, VRXValeant submits HSR filing for proposed acquisition of Allergan
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July 11, 2014
16:48 EDTAGN, VRXAllergan 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
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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July 9, 2014
18:31 EDTAGN, VRXShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTVRX, AGNAllergan CEO seeks sizeable acquisitions, WSJ reports
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06:19 EDTVRX, AGNAllergan plans broad restructuring plan, Bloomberg says
Allergan (AGN), the pharmaceutical maker that is being chased by Valeant (VRX) and Bill Ackman’s hedge fund, will shelve unpromising pipeline medicines and revamp management incentives, according to Bloomberg, citing two people with knowledge of the matter. The sources said that the restructuring plan, which is set to be explained during Allergan's upcoming earnings announcement, will also detail companywide cost reductions including some legacy expenses. Reference Link
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