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Stock Market & Financial Investment News

News Breaks
June 18, 2014
09:31 EDTVRX, AGNValeant commences exchange offer for Allergan
Valeant (VRX) announced that it has commenced an exchange offer for the common stock of Allergan (AGN), taking its May 30 proposal directly to Allergan stockholders. Under the terms of the offer, Allergan stockholders would be able to elect to exchange each of their Allergan shares for $72.00 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, in each case subject to proration. The offer is scheduled to expire on August 15, unless the offer is extended. Valeant expects to complete a second-step merger promptly following the consummation of the exchange offer in order to acquire the remaining Allergan shares. Valeant also indicated it remains willing to provide shareholders with a contingent value right related to DARPin sales if Allergan engages in negotiations to work out the exact terms.
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August 26, 2014
16:45 EDTVRX, AGNAllergan schedules special meeting on takeover for December 18, WSJ says
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August 22, 2014
19:02 EDTVRX, AGNAllergan confirms Pershing written request, board views Valeant offer inadequate
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18:33 EDTVRX, AGNPershing Square submits requisite requests from Allergan holders to call meeting
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09:33 EDTAGN, VRXValeant to request today special meeting of Allergan holders, CNBC reports
Valeant (VRX) will deliver today a request of 30%-plus of Allergan (AGN) shareholders for a special meeting, CNBC's David Faber reports, citing sources.
06:49 EDTAGN, VRXJudge rejects Allergan inquiry to quicken insider trading case, Reuters says
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06:45 EDTAGN, VRXJudge refuses to prevent special Allergan shareholder meeting, NY Times says
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August 21, 2014
09:42 EDTVRXValeant to sell Precision's assets related to two acne treatments
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August 20, 2014
17:59 EDTVRX, AGNAllergan talks with Salix in defense tactic said to be dormant, Bloomberg says
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17:35 EDTAGN, VRXAllergan said to explore options outside of Salix acquisition, Bloomberg says
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10:53 EDTVRX, AGNAnalysts say Salix takeover would boost Allergan
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09:46 EDTVRX, AGNAllergan merger deal not imminent, CNBC's Faber reports
An acquisition by Allergan (AGN) is not imminent, CNBC's David Faber reports. Salix (SLXP) and Jazz Pharmaceuticals (JAZZ) are said to be potential targets of the company, Faber adds. Valeant (VRX) could announce over the next few days that it has enough votes to call for a special meeting, the reported said.
07:19 EDTAGNPossible Allergan Salix deal could be 8% accretive in '15-'16, says Wells Fargo
After The Wall Street Journal reported that Allergan (AGN) had approached Salix (SLXP) and other companies about a potential acquisition, Wells Fargo thinks that a largely debt financed purchase of Salix could be 8% accretive for Allergan in 2015-2016, reaching 12% accretion in 2018.
07:07 EDTVRX, AGNSome Valeant shareholders express uncertainty over Allergan deal, Reuters says
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07:04 EDTAGNSalix buyout price could be near $192 per share, says William Blair
William Blair believes a combined Allergan (AGN) and Salix (SLXP) would be very attractive. The firm estimates a potential takeover price for Salix towards the high end of its $176-$192 per share range. Salix rose 16% yesterday to $160.80 after Wall Street Journal reported that Allergan approached the company and at least one other about a takeover.
August 19, 2014
17:14 EDTAGN, VRXOn The Fly: Closing Wrap
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16:52 EDTAGN, VRXAllergan all-cash deal would reduce hostile bid chances, says BMO Capital
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14:40 EDTAGNSterne Agee says Allergan could pay up to $190 for Salix and still be accretive
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13:13 EDTVRX, AGNAllergan approached Salix, one other about takeover, WSJ reports
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13:06 EDTAGNSalix jumps 6% to $147.85 after WSJ report of Allergan approach
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13:05 EDTAGNAllergan approached Salix about takeover, WSJ reports
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