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Stock Market & Financial Investment News

News Breaks
February 18, 2014
09:04 EDTENTA, ABBVEnanta Pharmaceuticals could be acquired by AbbVie, says JMP Securities
Sterne Agee believes that coming HCV approvals could entice Abbvie (ABBV) to buy Enanta Pharmaceuticals (ENTA). The firm raised its price target on Enanta to $50 from $25 and recommends owning Enanta at current levels.
News For ENTA;ABBV From The Last 14 Days
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July 13, 2014
17:10 EDTABBVShire said to seek bid of near 53 pounds per share from AbbVie, Reuters says
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July 11, 2014
16:46 EDTABBVStocks end week lower on European, Fed concerns
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14:13 EDTABBVShire, AbbVie didn't commit to further talks, Dow reports
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13:58 EDTABBVShire confirms meeting with AbbVie representatives
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11:54 EDTABBVAbbVie, 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.
11:34 EDTABBVShire jumps 5% after Bloomberg report on talks with AbbVie
11:33 EDTABBVShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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06:29 EDTABBVAbbVie encourages largest Shire shareholders to pursue talks, Bloomberg says
Shire (SHPG) is hearing from its largest shareholders who are encouraging the company to come to the table and work out an agreement with AbbVie (ABBV), according to Bloomberg, citing three people familiar with the matter. AbbVie is targeting Shire in a $51.1B takeover offer. Reference Link
July 10, 2014
09:40 EDTABBVAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
July 9, 2014
08:19 EDTABBVAbbVie offer may not bring Shire to negotiating table, says BMO Capital
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07:38 EDTABBVShire still has leverage, can get one more raise from AbbVie, Reuters contends
The selloff in shares of Shire (SHPG) and AbbVie (ABBV) yesterday following the latter's increased takeover offer suggests the market now expects a strong rebuttal from Shire, but "one plausible response" is a gently worded rejection that signals that another raised bid would be enough to secure a deal without a hostile play, contended Reuters Breakingviews columnists Neil Unmack and Robert Cyran. Shire’s board still has some leverage and can "probably extract one more increase in return for their recommendation," the authors believe. Reference Link
06:40 EDTABBVAbbVie required to retract comments in Shire takeover battle, Reuters says
AbbVie (ABBV) has been required to take back comments made by its CEO Richard Gonzalez regarding shareholder support for its offer for Shire (SHPG), according to Reuters, citing a statement from the U.S. drugmaker. British takeover rules say that a rival is not allowed to claim support for its bid unless it has this in writing from shareholders. Reference Link
July 8, 2014
16:23 EDTABBVOn The Fly: Closing Wrap
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12:48 EDTABBVOn The Fly: Midday Wrap
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09:15 EDTABBVOn The Fly: Pre-market Movers
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09:05 EDTABBVShire says board will meet to consider AbbVie proposal
Shire (SHPG) notes the announcement by AbbVie (ABBV) of a revised conditional non-binding proposal for a cash and share offer for Shire, comprising GBP 22.44 in cash and 0.8568 AbbVie shares per Shire share. "Shire confirms that AbbVie did not make the revised proposal to Shire before the announcement. The Board of Shire will meet to consider the proposal and a further announcement will be made in due course. Shareholders are strongly advised to take no action in relation to the AbbVie proposal. There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made. This statement is being made by Shire without the prior agreement or approval of AbbVie," Shire stated.
08:07 EDTABBVShire volatility expected to move on AbbVie increasing proposal
Shire (SHPG) volatility is expected to move on AbbVie (ABBV) announcing that it has increased its proposal to GBP 22.44 in cash and 0.8568 ordinary shares of new AbbVie for each Shire share. This new proposal is an approximately 11% increase from AbbVie's prior indicative proposal. Overall option implied volatility of 49 is above its 26-week average of 34 according to Track Data, suggesting large near term price movement.
07:55 EDTABBVAbbVie increases proposal for Shire to GBP 51.15 per share
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07:54 EDTABBVShire jumps 3% to $244 after AbbVie ups buyout offer for fourth time
07:53 EDTABBVAbbVie raises offer for Shire to 51.15 pounds per share
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