New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:45 EDTAGN, VRXPershing Square looks to obtain consents for special meeting
Pershing Square, who along with Valeant (VRX) own 9.7% of Allergan's (AGN) outstanding shares sent a letter on July 16 to Allergan's board which addressed the Allergan's response to Valeantís acquisition proposal. The letter said in part: "In my 21-year history as a governance investor, I cannot think of another example in our portfolio where a board has behaved as poorly as you have in your response to the Valeant merger proposal...You have accused Valeant of fraudulent accounting and of falsifying its reported growth rates and business performance, and you have done so without factual evidence to prove these assertions. If one spreads false and misleading information for the purpose of driving down Valeantís stock price, that is market manipulation, plain and simple. That a board of a $50B market cap company would engage in such behavior as a defensive tactic is extraordinary and incredibly inappropriate. ..We remind you that the current value of Valeantís stock does not reflect the value ultimately received by Allergan shareholders because Valeantís stock currently trades at a substantial discount due to Allerganís scorched earth, negative information campaign against Valeant, the uncertainty of transaction consummation due to Allerganís defensive tactics, and the resulting delays in time to closure...We are now working to obtain the consents to call a special meeting, and upon their receipt, we will ask the board to call the meeting. While under the companyís highly restrictive and cumbersome special meeting mechanics, you have the ability to delay the meeting for up to 120 days, we on behalf of Allerganís other shareholders ask that you do not delay the inevitable any further. What legitimate board of directors attempts to silence or otherwise delay hearing what its own shareholders have to say? Shareholders are looking forward to expressing their views."
News For AGN;VRX From The Last 14 Days
Check below for free stories on AGN;VRX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
July 21, 2014
08:01 EDTAGNAllergan reports Q2 adjusted EPS $1.51, consensus $1.44
Reports Q2 revenue $1.86B, consensus $1.77B.
07:15 EDTVRX, AGNValeant Allergan contacts Quebec, U.S. regulators regarding Allergan statements
Valeant (VRX) has contacted both the Autorite des marches financiers in Quebec and the SEC regarding Allergan (AGN) apparent attempt to "mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business despite Valeant's public statements correcting such information." The latest statements were made last Friday when Allergan asserted in an SEC filing that Bausch + Lomb's pharmaceutical sales were stagnant or declining. Valeant's decision to contact the authorities also reflects concerns raised by several Canadian Valeant shareholders about comments made about Valeant by Allergan's management during recent meetings with these investors in Canada.
07:09 EDTAGN, VRXValeant, Ackman go to SEC over Allergan claims, CNBC reports
Subscribe for More Information
06:34 EDTAGN, VRXCapital Research sells nearly all its Allergan stake, WSJ reports
Subscribe for More Information
July 18, 2014
12:51 EDTAGN, VRXKey GOP senator signals readiness for inversion deal, The Hill says
Subscribe for More Information
11:27 EDTAGN, VRXSamlyn undecided on support for Valeant bid for Allergan, Dow says
Subscribe for More Information
July 17, 2014
16:45 EDTVRX, AGNPershing Square looks to obtain consents for special meeting
Subscribe for More Information
10:20 EDTAGNPershing sees coming 13-Fs to show long-term Allergan holders have been selling
Subscribe for More Information
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
Subscribe for More Information
08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
Subscribe for More Information
07:00 EDTAGN, VRXPaulson says Allergan could be wroth $220 per share, WSJ reports
Subscribe for More Information
July 16, 2014
17:46 EDTAGN, VRXAckman says he thinks Allergan-Valeant deal eventually gets done
Subscribe for More Information
17:42 EDTAGN, VRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
Subscribe for More Information
10:36 EDTVRX, AGNTreasury calls on Congress to halt inversion deals
Subscribe for More Information
10:31 EDTAGNPershing Square Capital Management holds analyst/industry conference call
Subscribe for More Information
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 Allerganís corporate governance.
08:16 EDTVRX, AGNLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
Subscribe for More Information
07:59 EDTVRX, AGNTreasury Secretary urges Congress to take action on tax inversions
Subscribe for More Information
July 15, 2014
11:13 EDTAGNPerrigo retreats after analyst sees limited potential buyers
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use