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Stock Market & Financial Investment News

News Breaks
July 7, 2014
12:50 EDTVRX, AGNPershing Square reveals six nominees to Allergan board
Pershing Square announced a slate of six independent directors for the board of directors of Allergan (AGN). The six members of the slate are: Betsy Atkins, Cathleen Black, Fredric Eshelman, Steven Shulman, David Wilson and John Zillmer. Pershing stated, "As previously announced, Pershing Square is seeking to call a special meeting of Allergan shareholders. At this special meeting, Allergan shareholders will be able to voice their support for a number of critical matters, including the removal of six incumbent members of the Allergan board, the appointment of the independent Pershing Square slate and certain other actions to improve the corporate governance of Allergan. To that end, Pershing Square will file today revised preliminary solicitation materials with the Securities and Exchange Commission." Pershing Square CEO Bill Ackman said, "Each member of our slate of nominees is an independent, skilled leader with relevant domain, industry and/or executive management experience. By supporting this slate, Allergan shareholders can ensure that the interests of shareholders will be well represented on the board of Allergan." Each of the executives is also independent of Pershing Square and Valeant Pharmaceuticals (VRX), Pershing noted.
News For AGN;VRX From The Last 14 Days
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November 17, 2014
09:34 EDTAGNCombined Actavis-Allergan to be led by Actavis CEO Saunders
Actavis (ACT) and Allergan (AGN) said The combined company will be led by Brent Saunders, CEO and President of Actavis, and Paul Bisaro will remain Executive Chairman of the Board. The integration of the two companies will be led by the senior management teams of both companies, with integration planning to begin immediately in order to transition rapidly to a single company. Additionally, two members of the Allergan board of directors will be invited to join the Actavis Board of Directors following the completion of the transaction.
09:32 EDTVRX, AGNValeant says cannot justify paying $219 per share for Allergan
Valeant Pharmaceuticals (VRX) commented on the announcement that Allergan (AGN) and Actavis (ACT) have entered into a definitive agreement under which Actavis will acquire all outstanding shares of Allergan stock: "We have seen the announcement that Allergan and Actavis have made, and while we will review any such agreement in determining our course of action, Valeant cannot justify to its own shareholders paying a price of $219 or more per share for Allergan. Our business is performing extremely well as evidenced by our third quarter results, our expected strong fourth quarter, and our robust outlook for 2015, and I am confident in our continued ability to generate exceptional shareholder value. We will remain focused on delivering strong organic results and evaluating acquisition opportunities as we always have: prudently, in a disciplined manner, and in the best interests of our shareholders."
09:29 EDTAGNActavis to host conference call
Conference call to discuss the acquisition of Allergan will be held on November 17 at 10:30 am. Webcast Link
09:24 EDTAGNAllergan up over 5% to $209 after agreeing to be acquired by Actavis
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09:21 EDTAGNActavis, Allergan transaction subject to approval of shareholders of both
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09:20 EDTAGNActavis projects at least $1.8B in annual synergies from Allergan transaction
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09:18 EDTAGNActavis sees free cash flow over $8B in 2016 following Allergan acquisition
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09:16 EDTAGNActavis confirms deal to acquire Allergan for $219 in cash, stock
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09:15 EDTAGNActavis confirms deal to acquire Allergan for $219 in cash and shares
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09:10 EDTAGNActavis buying Allergan for $219 per share, CNBC reports
06:05 EDTAGN, VRXActavis close to buying Allergan for over $64B, Bloomberg reports
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November 16, 2014
14:02 EDTVRX, AGNAllergan, Actavis move closer to deal, WSJ reports
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November 14, 2014
09:38 EDTVRXJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
November 13, 2014
09:33 EDTVRXZoetis could get bought by Bayer for $53/share, says Jefferies
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07:23 EDTAGN, VRXValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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November 12, 2014
16:53 EDTAGNAllergan receives FDA approval for new styles of NATRELLE 410
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10:09 EDTVRX, AGNActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:01 EDTAGNActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTVRX, AGNZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
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