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Stock Market & Financial Investment News

News Breaks
April 23, 2014
09:02 EDTVRXValeant upgraded to Buy from Hold at TD Securities
News For VRX From The Last 14 Days
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September 23, 2014
08:53 EDTVRXInversion regulations look more onerous than expected, says FBR Capital
FBR Capital says the new regulations announced last night by the Treasury and IRS contain appear more onerous than expected. FBR points out the proposed changes remove the ability of inverting companies to make "hopscotch loans" between the foreign and domestic subsidiaries. The firm believes the regulations will not end the practice of inversions, and it still expects completion of already announced deals.
08:38 EDTVRXPershing threatens suit against Allergan if no vote held on Salix deal, WSJ says
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05:56 EDTVRXTreasury, IRS announce plans to reduce inversion tax benefits
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September 22, 2014
19:03 EDTVRXAllergan rejected buyout bid from Actavis, in advanced talks for Salix, WSJ says
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September 19, 2014
11:25 EDTVRXSenators bring bill requiring companies to settle before inverting
U.S. Senators Sherrod Brown and Dick Durbin announced new legislation requiring corporations to "Pay What You Owe Before You Go" Ė settling their U.S. tax bill before relocating to a foreign country. "Everyone knows that before you leave a restaurant you have to settle your tab," Brown said. "Corporations shouldnít get to play by different rules. While it is critical that we reach a long-term solution that reforms our international corporate tax code by implementing a global minimum tax and reducing the statutory tax rate, this bill is an immediate, commonsense measure to ensure businesses settle up before leaving the U.S." Among the deals or possible transactions that involve inversion are Mylan's (MYL) acquisition of Abbott (ABT), Medtronic's (MDT) acquisition of Covidien (COV) and Valeant's (VRX) proposed takeover of Allergan (AGN).
September 16, 2014
11:51 EDTVRXOECD looks to close tax loopholes with new proposals
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05:37 EDTVRXValeant, Pershing Square, Allergan settle pending litigation before DE Court
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September 12, 2014
08:02 EDTVRXPershing submits special meeting requests totaling 35% of Allergan shares
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05:09 EDTVRXAllergan comments on Pershing Square delivery of additional requests
Allergan (AGN) commented on Pershing Square Capital Management delivery of additional requests from stockholders owning 1.5% of Allerganís shares to call a Special Meeting of Stockholders. Allergan will review these requests in addition to the requests from stockholders owning 2.8% of Allerganís shares that were delivered on September 3. The company issued the following statement: Notwithstanding Pershing Square and Valeant Pharmaceuticals (VRX) efforts to change the subject, Allergan recognizes that what actually matters is value, and thatís what the company is focusing on delivering to stockholders. In that regard, Allerganís current strategic plan is expected to deliver a compounded annual growth rate of greater than 20% EPS growth, including estimated 2016 EPS at approximately $10.00. Allergan has already scheduled the Special Meeting for December 18. As such, the delivery of additional requests for the Special Meeting by Pershing Square is not a meaningful development. The lawsuit in California is seeking an order barring Valeant, Pershing Square, Ackman, and entities affiliated with them from voting shares that Allergan believes were acquired in violation of the federal securities laws, including insider trading. If Allerganís motion for a preliminary injunction is granted, it would prevent Valeant, Pershing Square, and Ackman from voting their shares at any meeting of stockholders.
September 11, 2014
09:52 EDTVRXValeant to submit consent from 35% of Allergan holders, CNBC reports
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September 9, 2014
06:42 EDTVRXLew expects to make decision on combating inversion deals soon, NY Times reports
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