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Stock Market & Financial Investment News

News Breaks
May 28, 2014
05:35 EDTNSRGY, VRX, LRLCYNestle creates Nestle Skin Health with acquisition of Valeant assets for $1.4B
Nestlé (NSRGY) announced it would extend its activities to include the field of specialized medical skin treatments through the creation of Nestlé Skin Health S.A. The foundation for the company would be Galderma, the 50/50 joint venture with L'Oreal (LRLCY), which would become fully-owned by Nestlé. Bübchen, the company's existing infant skin care business would be merged into the new entity. The acquisition of Galderma is awaiting final regulatory clearance. Nestlé is announcing it will reinforce Nestlé Skin Health with the acquisition from the Canadian firm Valeant Pharmaceuticals (VRX) of the full rights to commercialize several key aesthetic dermatology products in the U.S. and Canada for $1.4B in cash. The two markets together represent more than half of the fast-growing medical aesthetics market around the world. Galderma already commercializes the products included in this transaction outside those markets. Nestlé is acquiring the full rights to commercialize in the U.S. and Canada Restylane, Perlane and Emervel, products used for corrective facial aesthetic treatments, and Dysport, an aesthetic dermatology treatment. It will also acquire the full rights to Sculptra, a unique treatment for aesthetic and medical uses in the U.S., Canada and many markets around the world.
News For NSRGY;VRX;LRLCY From The Last 14 Days
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July 18, 2014
11:27 EDTVRXSamlyn undecided on support for Valeant bid for Allergan, Dow says
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06:41 EDTNSRGYNestle U.S. chocolate goals curbed by Lindt acquisition, Bloomberg says
Nestle, who usually aims to be first or second in all of its divisions, isn’t even close in the U.S. chocolate candy industry, where the Swiss firm is shut-out by Mars and Hershey (HSY), reported Bloomberg. When Lindt & Spruengli finalizes its acquisition of Russell Stover Candies, Nestle will fall even deeper behind, by ranking fourth in the U.S. Reference Link
July 17, 2014
16:45 EDTVRXPershing Square looks to obtain consents for special meeting
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08:08 EDTVRXValeant receives FDA clearance for Victus Femtosecond Laser Platform
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07:00 EDTVRXPaulson says Allergan could be wroth $220 per share, WSJ reports
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July 16, 2014
17:46 EDTVRXAckman says he thinks Allergan-Valeant deal eventually gets done
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17:42 EDTVRXPershing Square's Ackman says Allergan's attack on Valeant unprecedented
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10:36 EDTVRXTreasury calls on Congress to halt inversion deals
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09:16 EDTVRXPershing 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 Allergan’s corporate governance.
08:16 EDTVRXLew's letter could bring 'chilly' tax inversion environment, says BMO Capital
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07:59 EDTVRXTreasury Secretary urges Congress to take action on tax inversions
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July 14, 2014
12:47 EDTVRXAllergan slides question Valeant growth, disclosures, says BMO Capital
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08:13 EDTVRXAllergan reiterates belief that Valeant model unsustainable in new presentation
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08:02 EDTVRXValeant submits HSR filing for proposed acquisition of Allergan
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July 11, 2014
16:48 EDTVRXAllergan comments on Pershing Square’s definitive proxy solicitation
Allergan (AGN) provided the following comment in response to the definitive proxy solicitation filed by Pershing Square Capital Management in connection with Pershing Square’s request to call a Special Meeting of Stockholders. At the Special Meeting, if called, Allergan stockholders would be asked to remove a majority of the company’s existing directors in connection with Valeant Pharmaceuticals' (VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan for 0.83 shares of Valeant common stock and $72.00 in cash, or subject to proration, an amount of cash or a number of Valeant common shares with the implied value set forth in the exchange offer. Under the current Board’s leadership, which includes individuals with significantly more industry experience than Pershing Square’s recommended nominees, Allergan continues to execute on its plan to drive near- and long-term organic growth, enhance its growth prospects and continue generating significant value for all of Allergan’s stockholders. We believe Pershing Square’s attempt to replace a majority of the Allergan Board is a further effort to support Valeant in its bid to acquire Allergan at a grossly inadequate price that substantially undervalues the company and creates significant risks and uncertainties for Allergan stockholders. Valeant has repeatedly failed to address the serious concerns raised by Allergan and important members of the investment community about Valeant’s anemic organic growth driven by unsustainable price increases, among other fundamental business model issues. Allergan has a track record of consistently acting in the best interests of its stockholders and the Board remains confident in the company’s ability to create significantly more value than Valeant’s proposal.
July 10, 2014
09:31 EDTVRX, NSRGYNestle acquires rights to aesthetic dermatology products in the U.S. and Canada
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09:31 EDTVRX, NSRGYValeant completes filler, toxin asset sale to Galderma
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July 9, 2014
18:31 EDTVRXShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTVRXAllergan CEO seeks sizeable acquisitions, WSJ reports
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06:19 EDTVRXAllergan plans broad restructuring plan, Bloomberg says
Allergan (AGN), the pharmaceutical maker that is being chased by Valeant (VRX) and Bill Ackman’s hedge fund, will shelve unpromising pipeline medicines and revamp management incentives, according to Bloomberg, citing two people with knowledge of the matter. The sources said that the restructuring plan, which is set to be explained during Allergan's upcoming earnings announcement, will also detail companywide cost reductions including some legacy expenses. Reference Link
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