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Stock Market & Financial Investment News

News Breaks
November 9, 2012
15:16 EDTMRX, VRXJefferies sees no danger to Valeant, Medicis deal
Jefferies believes the Valeant's (VRX) acquisition of Medicis (MRX) is not in danger following the Qmed lawsuit and said it would be a buyer of Valeant on any weakness.
News For VRX;MRX From The Last 14 Days
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August 20, 2014
17:35 EDTVRXAllergan said to explore options outside of Salix acquisition, Bloomberg says
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10:53 EDTVRXAnalysts say Salix takeover would boost Allergan
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09:46 EDTVRXAllergan 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.
07:07 EDTVRXSome Valeant shareholders express uncertainty over Allergan deal, Reuters says
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August 19, 2014
17:14 EDTVRXOn The Fly: Closing Wrap
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16:52 EDTVRXAllergan all-cash deal would reduce hostile bid chances, says BMO Capital
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13:13 EDTVRXAllergan approached Salix, one other about takeover, WSJ reports
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August 18, 2014
15:59 EDTVRXAllergan CFO change may suggest strategic deal near, says BMO Capital
BMO Capital believes former Allergan (AGN) CFO Jeff Edwards would not be leaving if a change of control of the company, such as a takeover by Valeant (VRX), were in the future. Rather, BMO thinks Edwards' decision to leave could be a sign that a strategic transaction marking a new chapter in Allergan's growth may be nearing. The firm thinks Allergan is in capable hands with new CFO Jim Hindman and it keeps an Outperform rating on the stock with a $230 price target.
August 15, 2014
17:03 EDTVRXValeant 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 EDTVRXValeant being probed by IRS after Biovail deal, FT says
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09:45 EDTVRXEvent-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
17:41 EDTVRXPoint72 Asset Management gives quarterly update on stakes
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14:28 EDTVRXAckman 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 EDTVRXValeant, Pershing joint bid for Allergan being probed by SEC, WSJ says
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13:22 EDTVRXValeant, Pershing joint bid for Allergan being probed by SEC, DJ says
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August 11, 2014
17:36 EDTVRXValeant receives FTC second request under Hart-Scott-Rodino
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12:52 EDTVRXAllergan 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 EDTVRXValeant shareholder ValueAct sees no need to buy Allergan, Reuters says
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12:27 EDTVRXValueAct says Valeant does not need to buy Allergan, Reuters says
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07:22 EDTVRXJudge sets hearing date for Allergan suit vs. Valeant, Reuters reports
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