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News Breaks
February 4, 2013
14:45 EDTAGNEarnings Preview: Allergan up approximately 15% year-to-date
Allergan (AGN) is scheduled to report Q4 earnings before the market open on Tuesday February 5, with a conference call scheduled for 11:00 am ET. Allergan is a multi-specialty health care company focused on discovering, developing and commercializing innovative pharmaceuticals, biologics, medical devices and over-the-counter consumer products... EXPECTATIONS: Analysts are looking for EPS of $1.18 on revenue of $1.51B, according to First Call. The consensus range for EPS is $1.13-$1.21 on revenue of $1.48- $1.53B... LAST QUARTER: Allergan reported Q3 EPS of $1.06 against estimates of $1.04 on revenue of $1.41B against estimates of $1.43B. At the time of its Q3 earnings release, Allergan gave Q4 EPS guidance of $1.18-$1.20 against consensus estimates of $1.20 on revenue of $1.47B-$1.55B on consensus estimates of $1.51B... STREET RESEARCH: In a research note from February 4, Buckingham said it is keeping its Buy rating on Allergan shares on attractive longer term growth prospects, but noted that with shares up ~ 17% year-to-date, some volatility in share price should be expected. The firm also noted that it would be more aggressive on shares with any potential weakness. On January 25, Leerink raised Allergan's price target to $116-$117 from $103-$104 to reflect its positive view of recent acquisitions and long-term prospects for the company. Leerink kept an Outperform rating on the stock... PRICE ACTION: Allergan shares are up approximately 15% since January 1. In late afternoon trading, Allergan shares are down about 1.5% to $105.30.
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August 26, 2014
20:04 EDTAGNAllergan requests block to Ackman, Valeant votes, announces Special Meeting date
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16:45 EDTAGNAllergan schedules special meeting on takeover for December 18, WSJ says
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August 22, 2014
19:02 EDTAGNAllergan confirms Pershing written request, board views Valeant offer inadequate
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18:33 EDTAGNPershing Square submits requisite requests from Allergan holders to call meeting
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09:33 EDTAGNValeant to request today special meeting of Allergan holders, CNBC reports
Valeant (VRX) will deliver today a request of 30%-plus of Allergan (AGN) shareholders for a special meeting, CNBC's David Faber reports, citing sources.
06:49 EDTAGNJudge rejects Allergan inquiry to quicken insider trading case, Reuters says
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06:45 EDTAGNJudge refuses to prevent special Allergan shareholder meeting, NY Times says
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August 20, 2014
17:59 EDTAGNAllergan talks with Salix in defense tactic said to be dormant, Bloomberg says
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17:35 EDTAGNAllergan said to explore options outside of Salix acquisition, Bloomberg says
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10:53 EDTAGNAnalysts say Salix takeover would boost Allergan
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09:46 EDTAGNAllergan merger deal not imminent, CNBC's Faber reports
An acquisition by Allergan (AGN) is not imminent, CNBC's David Faber reports. Salix (SLXP) and Jazz Pharmaceuticals (JAZZ) are said to be potential targets of the company, Faber adds. Valeant (VRX) could announce over the next few days that it has enough votes to call for a special meeting, the reported said.
07:19 EDTAGNPossible Allergan Salix deal could be 8% accretive in '15-'16, says Wells Fargo
After The Wall Street Journal reported that Allergan (AGN) had approached Salix (SLXP) and other companies about a potential acquisition, Wells Fargo thinks that a largely debt financed purchase of Salix could be 8% accretive for Allergan in 2015-2016, reaching 12% accretion in 2018.
07:07 EDTAGNSome Valeant shareholders express uncertainty over Allergan deal, Reuters says
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07:04 EDTAGNSalix buyout price could be near $192 per share, says William Blair
William Blair believes a combined Allergan (AGN) and Salix (SLXP) would be very attractive. The firm estimates a potential takeover price for Salix towards the high end of its $176-$192 per share range. Salix rose 16% yesterday to $160.80 after Wall Street Journal reported that Allergan approached the company and at least one other about a takeover.
August 19, 2014
17:14 EDTAGNOn The Fly: Closing Wrap
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16:52 EDTAGNAllergan all-cash deal would reduce hostile bid chances, says BMO Capital
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14:40 EDTAGNSterne Agee says Allergan could pay up to $190 for Salix and still be accretive
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13:13 EDTAGNAllergan approached Salix, one other about takeover, WSJ reports
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13:06 EDTAGNSalix jumps 6% to $147.85 after WSJ report of Allergan approach
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13:05 EDTAGNAllergan approached Salix about takeover, WSJ reports
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