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Stock Market & Financial Investment News

News For MRK;MYL From The Last 14 Days
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August 18, 2015
10:01 EDTMYLRumor: Mylan moves higher on speculation of an activist investor stake
08:03 EDTMRKMerck says FDA accepts sBLA for Keytruda
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07:32 EDTMYLMylan sued in connection with filing of ANDA for Abiraterone Acetate Tablets
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August 14, 2015
17:08 EDTMYLPaulson & Co gives quarterly update on stakes
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16:37 EDTMYLAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:33 EDTMYLPaulson & Co. votes in support of Mylan's proposed merger with Perrigo
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12:12 EDTMYLPaulson recently took position in Perrigo, WSJ reports
John Paulson's hedge fund, which owns a 4.6% stake in Mylan (MYL), recently built a position in Perrigo (PRGO), Wall Street Journal reports, citing people familiar with the matter. Mylan has made an unsolicited bid to acquire Perrigo. Shares of Perrigo moved up following the report, and sit up 85c to $193.35 in midday trading.
11:10 EDTMYLPerrigo says ISS affirms position that Mylan deal would be 'value destructive'
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09:20 EDTMYLMylan responds to ISS recommendation regarding Perrigo transaction
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08:59 EDTMYLMylan tells holders board unanimously recommends Perrigo deal
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08:35 EDTMYLHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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08:23 EDTMYLMylan still in 'decent' position to win Perrigo vote, CNBC's Faber reports
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08:22 EDTMYLISS tells Mylan investors to vote against Perrigo takeover, WSJ reports
Proxy adviser Institutional Shareholder Services, or ISS, recommended that Mylan (MYL) investors vote against approving the company's $36B takeover of Perrigo (PRGO), the Wall Street Journal reports. ISS said that the deal faces too many hurdles and has "unreasonable uncertainties" associated with it, the report says. Reference Link
August 13, 2015
13:43 EDTMYLPerrigo comments on Mylan's 'reckless' lowering of tender threshold
Perrigo Company (PRGO) responded to the announcement that Mylan N.V. (MYL) has lowered the acceptance condition for its proposed unsolicited offer to acquire Perrigo from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares. Perrigo Chairman, President and CEO Joseph C. Papa said, "Mylan already proposed a dilutive deal that substantially undervalues Perrigo; today's announcement makes it even worse. This scare tactic is simply an attempt to coerce Perrigo shareholders into a value destructive deal. We don't believe Perrigo shareholders will tender into this transaction at any threshold and we are confident that there is no rational path to a full acquisition of Perrigo. This move is an obvious sign of desperation that would have profoundly negative effects for shareholders, debtholders, customers and employees of both Perrigo and Mylan. Under Irish law, this structure all but guarantees that the promised synergy realization will fail and it would create material credit and equity risk for both companies - none of which Mylan has detailed to its own shareholders or ours." Papa continued, "This reckless action runs contrary to the best interests of both Perrigo and Mylan shareholders, taking a value destructive transaction and making it materially worse when Mylan fails to achieve the 80% threshold necessary for consolidation. This is yet another example of Mylan's leadership disregarding their fiduciary responsibilities to represent the best interests of shareholders."
10:55 EDTMRKBMO upgrades Merck on Alzheimer's, lung cancer drug prospects
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10:00 EDTMRKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: A. Schulman (SHLM) upgraded to Buy from Accumulate at Global Hunter... American Capital Agency (AGNC) upgraded to Buy from Neutral at Compass Point... Annaly Capital (NLY) upgraded to Buy from Neutral at Compass Point... Aramark (ARMK) upgraded to Outperform at Baird... Bernstein upgrades Yahoo (YHOO), says shares pricing in 'almost' worst case scenario... BreitBurn Energy (BBEP) upgraded to Neutral from Sell at UBS... CAE (CAE) upgraded to Buy from Hold at Desjardins... Capital One (COF) upgraded at Argus... Coca-Cola Enterprises (CCE) upgraded to Outperform from Underperform at CLSA... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... EZchip (EZCH) upgraded to Buy from Hold at Brean Capital... Enzymotec (ENZY) upgraded to Outperform from Market Perform at Wells Fargo... Extra Space Storage (EXR) upgraded on positive catalysts at BMO Capital... Green Plains (GPRE) upgraded to Buy from Neutral at Goldman... Legg Mason (LM) upgraded to Overweight from Equal Weight at Barclays... Lincoln National (LNC) upgraded to Overweight at Morgan Stanley... Merck (MRK) upgraded on improved pipeline outlook at BMO Capital... Microsoft (MSFT) upgraded to Buy from Hold at Stifel... Monster Beverage (MNST) upgraded to Overweight from Equal Weight at Morgan Stanley... National Research (NRCIB) upgraded to Overweight from Equal-Weight at First Analysis... Qlik Technologies (QLIK) upgraded to Buy from Hold at Deutsche Bank... Spectra Energy Partners (SEP) upgraded to Overweight from Neutral at JPMorgan... Yahoo (YHOO) upgraded to Outperform from Market Perform at Bernstein.
08:33 EDTMRKMerck upgraded on improved pipeline outlook at BMO Capital
As noted earlier, BMO Capital upgraded Merck to Outperform from Market Perform. The firm has become more upbeat on the company's pipeline and predicts that upcoming data wil raise the Street's expectations for the company, leading to multiple expansion. The firm is impressed with the company's recent commercial execution and is upbeat on the company's near-term and long-term outlook. Target to $70 from $65.
08:01 EDTMRKMerck, MD Anderon Cancer Center partner to evaluate Keytruda treatment
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07:02 EDTMYLMylan lowers acceptance condition on Perrigo offer to greater than 50%
Mylan (MYL) announced that it has formally lowered the acceptance condition for its offer to acquire Perrigo (PRGO) from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares. As previously announced, on Aug. 6, 2015, Mylan entered Amendment No. 2 to its bridge credit agreement which allows Mylan to lower the acceptance condition to a number of Perrigo ordinary shares representing more than 50% of the voting rights then exercisable at a general meeting of Perrigo without further consent from the lenders. On April 24, 2015, Mylan issued a Rule 2.5 announcement under the Irish Takeover Rules setting forth its legally-binding commitment to commence an offer directly to the Perrigo shareholders for the entire issued and to be issued share capital of Perrigo. The proposed transaction remains subject to the pre-condition and certain conditions and other terms set forth in the formal Rule 2.5 announcement.
06:29 EDTMRKMerck upgraded to Outperform from Market Perform at BMO Capital
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