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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:20 EDTSHPG, CBST, AGNShire rumored to weigh Cubist bid, FT Alphaville says
Bryce Elder stated in an FT Alphaville blog that Shire (SHPG) will look to defend itself against a bid from Allergan (AGN) and "one rumour I'd suggest taking seriously" is that Shire is working on their own bid for Cubist Pharma (CBST). Reference Link
News For SHPG;CBST;AGN From The Last 14 Days
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August 18, 2014
11:57 EDTAGNAllergan CFO departure largely unexpected, says Wells Fargo
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11:41 EDTCBSTCubist rises after report sparks takeover interest speculation
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09:43 EDTCBSTCubist may receive takeover interest, Bloomberg reports
Cubist Pharmaceuticals' (CBST) focus on bacterial infections could attract takeover interest, Bloomberg reports in its Real M&A column. Reference Link
09:02 EDTAGNAllergan names Jim Hindman as CFO, effective immediately
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07:57 EDTSHPG, AGNCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
August 15, 2014
17:03 EDTAGNValeant extends offer to acquire Allergan
Valeant Pharmaceuticals (VRX) announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of Allergan (AGN) to December 31. The exchange offer was previously scheduled to expire August 15. All other terms and conditions of the exchange offer remain unchanged.
14:14 EDTAGNValeant being probed by IRS after Biovail deal, FT says
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09:45 EDTAGNEvent-driven funds, Pershing own over 20% of Allergan, CNBC reports
Event-driven hedge funds and Pershing Square owned over 20% of Allergan as of June 30, CNBC's David Faber reports. Valeant (VRX) and Pershing are seen as getting the over 30% to call a special meeting, Faber adds.
August 14, 2014
17:16 EDTSHPG, AGNPaulson & Co gives quarterly update on stakes
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17:02 EDTAGNPershing Square gives quarterly update on stakes
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14:28 EDTAGNAckman says Pershing, Valeant took no tender steps before buying Allergan shares
Bill Ackman made the statement to CNBC's Scott Wapner regarding his fund and Valeant's (VRX) pursuit of Allergan (AGN). Note that the Wall Street Journal reported earlier that the SEC is investigating Valeant and Pershing's pursuit of Allergan.
13:48 EDTAGNValeant, Pershing joint bid for Allergan being probed by SEC, WSJ says
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13:22 EDTAGNValeant, Pershing joint bid for Allergan being probed by SEC, DJ says
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August 13, 2014
16:32 EDTAGNAllergan acquires LiRIS program from TARIS Biomedical
Allergan and TARIS Holdings announced that Allergan has closed a transaction to acquire worldwide rights to TARIS Biomedicalís lead program, LiRIS, which is currently in Phase 2 trials for the treatment of interstitial cystitis / bladder pain syndrome. Allergan paid $67.5M in cash upfront, subject to certain adjustments and holdbacks. Allergan has also agreed to pay up to an aggregate of $295M in development milestone payments and up to an aggregate of $225M in commercial milestone payments. Prior to the closing of this transaction, TARIS spun out certain assets, including pipeline programs and intellectual property related to TARISí platform technology, to a new company funded by TARIS shareholders.
August 12, 2014
11:24 EDTSHPGOptions with increasing implied volatility
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August 11, 2014
17:36 EDTAGNValeant receives FTC second request under Hart-Scott-Rodino
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12:52 EDTAGNAllergan receives second request from FTC regarding Valeant's proposal
Allergan (AGN) announced that it received a request for additional information under the Hart-Scott-Rodino Act from the U.S. Federal Trade Commission in connection with Valeant Pharmaceuticals International's (VRX) unsolicited acquisition proposal of Allergan. Allergan intends to respond fully in connection with the ongoing investigation. The Company noted that Second Request investigations typically take some time to conclude, and Allergan cannot predict how long this investigation will take or how it might otherwise develop. The company previously announced that Allerganís Board of Directors unanimously determined that Valeantís unsolicited exchange offer is grossly inadequate, substantially undervalues the company, creates significant risks and uncertainties for Allergan stockholders, and is not in the best interests of the company and its stockholders. Goldman, Sachs & Co. and BofA Merrill Lynch are serving as financial advisors to the company and Latham & Watkins, Richards, Layton & Finger, P.A. and Wachtell, Lipton, Rosen & Katz are serving as legal counsel to the company.
12:42 EDTAGNValeant shareholder ValueAct sees no need to buy Allergan, Reuters says
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12:27 EDTAGNValueAct says Valeant does not need to buy Allergan, Reuters says
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07:22 EDTAGNJudge sets hearing date for Allergan suit vs. Valeant, Reuters reports
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