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Stock Market & Financial Investment News

News Breaks
December 12, 2012
19:15 EDTSAM, TELK, RRD, ENDP, HRGOn The Fly: After Hours Movers
UP AFTER GUIDANCE: Boston Beer (SAM), up 12% after raising FY12 EPS view... ALSO HIGHER: Telik (TELK), up 28% after reporting preliminary clinical trial abstract for neutrophina treatment... R.R. Donnelley (RRD), up 3% after first day of trading on the S&P MidCap 400... DOWN AFTER GUIDANCE: Endo Health (ENDP), down 6% after cutting FY12, FY13 EPS views, announcing CEO to retire... ALSO LOWER: Harbiner Group (HRG), down 12% after filing to sell unknown amount of common stock.
News For SAM;TELK;RRD;ENDP;HRG From The Last 14 Days
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October 21, 2014
06:37 EDTENDPEndo pullback brings buying opportunity, says Piper Jaffray
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October 20, 2014
07:33 EDTHRGHarbinger expresses disappointment in Central Garden & Pet's proposal rejection
Harbinger Group (HRG) released a letter to the board of Central Garden & Pet (CENT) expressing disappointment with the CENT board announcement rejecting HRG's proposal to acquire all of CENT for $10.00 in cash per share or alternatively to acquire CENT's Pet Segment for $750M in cash. HRG said it remains committed to pursuing a transaction with CENT and has called upon the members of the CENT Board to fulfill their responsibilities as fiduciaries to all shareholders of CENT by engaging in a constructive dialogue with HRG regarding its proposals, or otherwise to resign from the CENT Board. HRG is also encouraging CENT shareholders to communicate their opinion of these proposals, as well as the way in which these proposals were reviewed and dismissed, to the CENT Board. In the board, Harbinger Group said, "We believe that the Board's process in evaluating and responding to our proposals was deeply flawed and this Board continues to shirk its duty to act as an unbiased steward and fiduciary to all of the Company's shareholders... HRG remains committed to acquiring all of CENT for $10.00 in cash per share or alternatively acquiring CENT's Pet Segment for $750 million in cash. HRG's $10.00 per share offer represented a premium of 27.5% to the trading value of CENT common shares immediately before the offer. As a result of the announcement of HRG's offer, the CENT commons shares traded up to as high as $10.01 per share. However, the lack of action by CENT and its Board has allowed the CENT common shares to decline below the level of its share price before HRG made its offer public. Today, our $10.00 per share offer now represents a premium of 44.5% to the current trading value of CENT common shares."
October 14, 2014
11:23 EDTENDPBIND Therapeutics and The Conference Forum hold a conference
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October 13, 2014
10:08 EDTENDPOn The Fly: Analyst Upgrade Summary
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06:41 EDTENDPEndo upgraded to Hold from Sell at Cantor
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October 10, 2014
10:01 EDTENDPOn The Fly: Analyst Upgrade Summary
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05:50 EDTENDPEndo upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Endo (ENDP) to Overweight with an $84 price target citing an improved asset base following the takeover of Auxilium (AUXL).
05:47 EDTENDPAuxilium downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Auxilium (AUXL) to Neutral following the company's agreement to be acquired by Endo (ENDP). The firm expects shareholders to approve the deal and does not expect a competing bid.
October 9, 2014
09:20 EDTENDPOn The Fly: Pre-market Movers
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09:00 EDTENDPEndo says its not in position to give FY15
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08:49 EDTENDPEndo sees low-double digit revenue growth with Auxilium portfolio
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08:37 EDTENDPEndo expects Auxilium acquisition immediately accretive post close
Endo (ENDP) says the deal will provided expected annual run rate synergies of up to $175M by the first year after closing versus Auxilium's (AUXL trailing 12-month actuals as of June 30. Says synergies include Auxilium's $75M reduction in annual operating expenses previously announced. Says the deal is expected to "significantly'" enhance Endo's branded pharmaceutical business with the addition of Auxilium's men's health products and development portfolio. Says the agreement is designed to "accelerate growth" and maximize value of Auxilium's products by leveraging strengths of combined company. Says combined company will be "well positioned" to drive organic growth for branded pharmaceutical business. Says deal creates a "strong" margin profile and an enhanced near-and long-term revenue growth profile. Comments taken from the company's slide presentation regarding its combination with Auxilium.
07:49 EDTENDPEndo and Auxilium host a joint conference call
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06:32 EDTENDPEndo to acquire Auxilium in cash, stock transaction for approximately $2.6B
Endo (ENDP) and Auxilium Pharmaceuticals (AUXL) announced that they have entered into a definitive agreement under which Endo will acquire all of the outstanding shares of common stock of Auxilium for a per share consideration of $33.25 in a cash and stock transaction. The boards of both companies have unanimously approved the transaction, which is valued at $2.6B, including the repayment and assumption of debt. The transaction will include an election mechanism for Auxilium stockholders to elect cash and stock, all-stock or all-cash consideration, subject to proration in accordance with the terms of the definitive agreement. The per share consideration represents a premium of 55% to Auxilium's closing price on September 16, the day Endo made public its proposal for Auxilium. Subject to aggregate cash and equity consideration limits, Auxilium stockholders may elect one of three options with respect to transaction consideration: 100% equity which equates to 0.488 Endo shares per Auxilium share, 100% cash which equates to $33.25 per Auxilium share or a standard election of an equal mix of $16.625 in cash and 0.244 Endo shares per Auxilium share. The total cash consideration will not exceed 50% of the total equity value and the equity consideration will not exceed 75% of the total equity value. The transaction is expected to close in 1H15 and is subject to the approval of Auxilium's stockholders, regulatory approval in the U.S. and certain other jurisdictions, and other customary closing conditions.
06:31 EDTENDPEndo to acquire Auxilium in cash, stock transaction for approximately $2.6B
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