New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 3, 2014
09:06 EDTBAYRYBayer says CEO Dekkers to step down at end of 2016
Bayer announced that the contract of Dr. Marijn Dekkers will be extended by just two years on expiration of the initial five-year period. Dekkers cited family reasons for extending his contract only until the end of 2016. The company's board has appointed Werner Baumann, currently CFO, as Chief Strategy and Portfolio Officer effective October 1, 2014. Baumann’s existing contract runs until December 31, 2017. Also effective October 1, Johannes Dietsch, currently Senior Bayer Representative and CFO for Greater China based in Shanghai, will assume the position of CFO. He will be appointed to the Board of Management of Bayer effective September 1, 2014.
News For BAYRY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 20, 2015
10:00 EDTBAYRYOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:38 EDTBAYRYAnalyst predicts Zoetis merges with Bayer unit, not Valeant
Zoetis (ZTS) in recent months has been the subject of takeover speculation, possibly for Valeant (VRX), but a Jefferies analyst told investors today in a research note that he views a deal with a unit of healthcare giant Bayer (BAYRY) as "highly likely" for the animal medicine company. BACKGROUND: Bill Ackman of Pershing Square, who owns stakes in both Zoetis and Valeant, said in early May while speaking on CNBC that Zoetis is a "great” business on a standalone basis, but he also spoke of the company's strategic value. Ackman added, however, that he was "not sure" that Valeant was the best acquirer of Zoetis. Subsequently, in late June, The Wall Street Journal reported that Valeant made a preliminary approach regarding a potential deal to buy Zoetis. CNBC's David Faber said the next day, citing his own sources, that Valeant reached out to Zoetis as a courtesy to common shareholder Ackman and was unlikely to pursue an acquisition of the company, though he cautioned then Valeant could change its approach and pursue a deal. BAYER: Jefferies analyst Jeffrey Holford said in a note today that he views a tie-up between Zoetis and Bayer's Animal Health business in 2016 as "highly likely." He sees Mylan's (MYL) acquisition of Abbott's (ABT) non‑U.S. developed markets specialty and branded generics business as a potential proxy for how a transaction could be structured, adding that such a "spinversion" could achieve up to 36% long-term earnings accretion for Zoetis. Holford reiterated a Buy rating on Zoetis with a $60 price target, while downgrading Bayer to Hold, citing valuation following the recent outperformance of its shares. IDEXX: While being discussed as a target, some analysts have also opined on companies that Zoetis could pursue as a buyer. On June 29, Canaccord said that in investor meetings with IDEXX (IDXX) executives declined to comment on Zoetis' potential interest in scaling up its animal health diagnostics business. Canaccord added that it thought Zoetis could make a bid for IDEXX. The firm reiterated its Buy rating and $80 price target on IDEXX shares at that time. PRICE ACTION: Since June 25, the day the Journal first reported on Valeant's preliminary takeover approach to Zoetis, the animal health company's shares have dropped nearly 4%. Zoetis closed down 20c to $47.80 on Friday.
07:30 EDTBAYRYZoetis 'highly likely' to merge with Bayer unit in 2016, says Jefferies
Subscribe for More Information
05:21 EDTBAYRYBayer downgraded to Hold from Buy at Jefferies
Subscribe for More Information

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