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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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April 1, 2015
06:07 EDTVRXValeant completes tender offer for Salix
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06:05 EDTVRXValeant Pharmaceuticals International completes tender offer for Salix
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March 30, 2015
09:02 EDTVRXMylan slips amid Abbott share sale, Teva deal for Auspex
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March 27, 2015
07:25 EDTVRXTeva appears to be weighing transformative deal, says Bernstein
After attending Teva's (TEVA) meeting with investors, Bernstein thinks that the company is considering making a 'transformative' acquisition, although it believes that such a deal may not be imminent. The firm sees Mylan ((MYL) and the generic units of Actavis (ACT), Pfizer (PFE), and possibly Valeant (VRX) as the four logical candidates. It says that Teva can pay $81 per share for Mylan, and that a takeover of Mylan would raise Teva's EPS to about $6.50 in 2017 and $7 in 2018. Bernstein raised its price target on Teva to $69 from $60 and keeps an Outperform rating on the shares.
March 26, 2015
10:45 EDTVRXSynergy discussing possible sale with advisers, Bloomberg reports
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March 25, 2015
12:58 EDTVRXPershing Square raises stake in Valeant, says will discuss acquisitions
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11:59 EDTVRXPershing Square reports 5.7% stake in Valeant, will continue talks
Pershing Square expects to conduct discussions with Valeant and other relevant parties regarding strategic acquisitions by or joint ventures with the company, or other similar arrangements. These discussions would be exploratory in nature and there is no assurance that they would lead to a definitive transaction.
March 24, 2015
13:24 EDTVRXContact lens manufacturers accused of price-fixing, Bloomberg says
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March 23, 2015
16:14 EDTAGNPershing Square liquidates stake in Allergan
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09:03 EDTAGNLeerink analysts hold a meeting with a conference call hookup
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07:51 EDTVRXValeant price target raised to $240 from $185 at Susquehanna
Susquehanna raised its price target on Valeant to $240 from $185 to reflect the addition of durable assets and the improved growth trajectory its recent deals brings to its U.S. business. Susquehanna reiterated its Positive rating on Valeant shares.
07:17 EDTVRXAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
16:33 EDTVRXStocks end week higher after market reads Fed statement as dovish
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March 18, 2015
05:45 EDTVRXSalix downgraded to Hold from Buy at Jefferies
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