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Stock Market & Financial Investment News

News Breaks
May 28, 2014
06:07 EDTAGN, VRXValeant raises proposal for Allergan by $10.00 per share to $58.30 per share
Valeant Pharmaceuticals (VRX) announced that it has submitted an increase to its April 22 proposal to merge with Allergan (AGN) to Allergan's board. In a letter to Allergan's board, Valeant stated, "Our revised offer is based on specific feedback we received in our discussions and offers Allergan shareholders, for each Allergan share $58.30 in cash, representing an increase of $10, or approximately 21%, in the cash portion of the consideration, 0.83 of a Valeant share and a new CVR related to DARPin sales which would provide up to approximately $25.00 per share of additional value based on the approximately $20B in potential cumulative 10-year DARPin sales referred to in your May 12th presentation. We are prepared to fund up to $400M to develop DARPin and will pay 40% of the net sales of DARPin referred to in your May 12 presentation after recovery of our shareholders' investment in DARPin development expenses. Shareholders will continue to be able to elect their mix of cash and shares, subject to proration, as well as receiving the CVR. We would propose to retain Allergan employees to continue development of DARPin and will ask Allergan to provide us a list of eight independent scientific and business leaders. From these eight, we will select five to oversee DARPin development and decide on all go / no-go decisions as the compound progresses."
News For VRX;AGN From The Last 14 Days
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November 17, 2014
09:21 EDTAGNActavis, Allergan transaction subject to approval of shareholders of both
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09:20 EDTAGNActavis projects at least $1.8B in annual synergies from Allergan transaction
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09:18 EDTAGNActavis sees free cash flow over $8B in 2016 following Allergan acquisition
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09:16 EDTAGNActavis confirms deal to acquire Allergan for $219 in cash, stock
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09:15 EDTAGNActavis confirms deal to acquire Allergan for $219 in cash and shares
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09:10 EDTAGNActavis buying Allergan for $219 per share, CNBC reports
06:05 EDTVRX, AGNActavis close to buying Allergan for over $64B, Bloomberg reports
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November 16, 2014
14:02 EDTAGN, VRXAllergan, Actavis move closer to deal, WSJ reports
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November 14, 2014
09:38 EDTVRXJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
November 13, 2014
09:33 EDTVRXZoetis could get bought by Bayer for $53/share, says Jefferies
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07:23 EDTVRX, AGNValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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November 12, 2014
16:53 EDTAGNAllergan receives FDA approval for new styles of NATRELLE 410
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10:09 EDTVRX, AGNActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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10:01 EDTAGNActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
07:01 EDTAGNAllergan announces approval of amendments to company bylaws
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06:22 EDTVRX, AGNZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
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15:46 EDTAGN, VRXPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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08:32 EDTVRX, AGNValeant likely to raise offer for Allergan again, says Bernstein
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November 9, 2014
13:26 EDTVRX, AGNAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
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