New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 23, 2014
08:04 EDTSHPGShire sees capabilities, scale for 'substantial' acquisitions
Shire says its current scale and cash generation enable it to acquire additional assets in its core and adjacent areas.
News For SHPG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent SHPG news | >>
October 20, 2014
17:14 EDTSHPGAbbVie, Shire announce termination of proposed merger
12:23 EDTSHPGAllergan holder Paulson encourages deal with Shire, Reuters says
Subscribe for More Information
12:21 EDTSHPGCooperman says bought Shire as 'small position'
Subscribe for More Information
09:22 EDTSHPGOn The Fly: Pre-market Movers
Subscribe for More Information
07:47 EDTSHPGPfizer less likely to renew Astra pursuit after Shire deal breakdown, FT says
Subscribe for More Information
07:33 EDTSHPGShire upgraded to Buy from Neutral at SunTrust
Subscribe for More Information
07:19 EDTSHPGIBC Life Sciences to hold a conference
Subscribe for More Information
07:16 EDTSHPGAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
07:15 EDTSHPGAmerican Academy of Child & Adolescent Psychiatry to hold annual meeting
Subscribe for More Information
07:10 EDTSHPGAmerican Society of Human Genetics to hold annual meeting
Subscribe for More Information
06:56 EDTSHPGShire reopens acquistion talks with NPS Pharmaceuticals, Cubist, Telegraph says
Subscribe for More Information
05:29 EDTSHPGShire Interim CFO James Bowling to step down
Shire plc announces that James Bowling, Interim CFO, has notified the board of his decision to step down from his current role to pursue a new career opportunity as CFO of Severn Trent plc. James will leave Shire at the end of 1Q15 and the company will commence a search for a new CFO immediately.
October 17, 2014
16:55 EDTSHPGStocks end volatile week lower amid oil price plunge
Subscribe for More Information
07:07 EDTSHPGShire may be buyer instead of target if AbbVie deal breaks, WSJ says
Assuming AbbVie's (ABBV) deal to buy Shire (SHPG) gets cancelled, which appears likely at this point, many analysts and investors believe Shire will become a buyer and Leerink Partners estimates the company could have $10B to use for a takeover deal, reported The Wall Street Journal. AbbVie will also be likely to look for other deals and could be forced to pay up for them, as its top seller, Humira, moves closer to losing patent exclusivity, the Journal said, citing analysts. Reference Link
October 16, 2014
16:29 EDTSHPGShire price target lowered to $198 from $278 at Leerink
Subscribe for More Information
08:52 EDTSHPGAbbVie price target lowered to $59 from $71 at BMO Capital
Subscribe for More Information
06:17 EDTSHPGJefferies says Medtronic 'needs to do' Covidien takeover
Jefferies says it "can't see how Medtronic walks" from the Covidien (COV) takeover given how compelling the merger is. The firm confirmed with Medtronic (MDT) that nothing has changed in the company's commitment to the deal since new financing terms were announced on October 3. In Jefferies view, "Medtronic needs to do this deal." It notes the spread on the acquisition widened significantly on the news that Abbvie (ABBV) is reconsidering its acquisition of Shire (SHPG).
05:50 EDTSHPGStocks with implied volatility movement; SHPG SIRI
Subscribe for More Information
05:37 EDTSHPGShire releases statement regarding AbbVie withdrawal of recommendation
Subscribe for More Information
05:21 EDTSHPGAbbVie recommends holders vote against Shire transaction
Following Shire's (SHPG) waiver of the three-day notice period, AbbVie (ABBV) announces its board withdraws its recommendation made on July 18 regarding the proposed Shire transaction and recommends that stockholders vote against the transaction. AbbVie and its board made this determination following a detailed consideration of the impact of the U.S. Department of Treasury's unilateral changes to the tax rules, as issued on September 22. The breadth and scope of the changes, including the unexpected nature of the exercise of administrative authority to impact longstanding tax principles, and to target specifically a subset of companies that would be treated differently than either other inverted companies or foreign domiciled entities, introduced an unacceptable level of uncertainty to the transaction. Additionally, the changes eliminated certain of the financial benefits of the transaction, most notably the ability to access current and future global cash flows in a tax efficient manner as originally contemplated in the transaction. This fundamentally changed the implied value of Shire to AbbVie in a significant manner. Under the conditions of AbbVie's offer and the terms of the Co-operation Agreement, the withdrawal of the recommendation alone will not cause a lapse of AbbVie's offer or terminate the Co-operation Agreement between AbbVie and Shire. Unless Shire and the U.K. Takeover Panel agree otherwise, AbbVie must convene an AbbVie stockholder meeting to consider the adoption of the U.S. merger agreement. AbbVie's offer will lapse if the company's stockholders do not adopt the agreement. Assuming Shire provides the requisite cooperation and consents, a pre-effective amendment to the registration statement filed by AbbVie Private Limited in connection with the combination is expected to be filed with the SEC as soon as practicable. Under the terms of the Co-operation Agreement, following the withdrawal of the AbbVie Board of Directors' recommendation, a break fee of approximately $1.64B will be payable to Shire if either: AbbVie stockholders do not approve the adoption of the U.S. merger agreement at an AbbVie stockholder meeting; or such a meeting does not occur by December 14.
1 | 2 | all recent SHPG news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use