Investor Bill Ackman is in court today over insider trading allegations in the deal between Allergan and Valeant Pharmaceuticals, reports CNBC's Kate Kelly.» Read More
Oct 9- Botox maker Allergan Inc lifted its third-quarter profit estimate and said the updated forecast showed that Valeant Pharmaceuticals Inc's takeover offer undervalued the company. Allergan said it now expects adjusted earnings of $1.76- $1.78 per share for the quarter, up from its previous forecast of $1.44- $1.47, helped by an increase in market share...
Oct 8- If Actavis Plc proceeds with a purchase of Botox maker Allergan Inc for potentially more than $60 billion, it will represent the biggest bet yet by one of the traditional generic drugmakers on the upside of expanding branded medicine holdings. Reuters reported on Tuesday that Actavis plans to approach Allergan about a potential merger, providing an...
NEW YORK, Oct 8- Earlier this week, Canada's Valeant Pharmaceuticals International Inc appeared to have its plan to buy Botox maker Allergan Inc all mapped out. However, Valeant's well-laid plans appeared to run into trouble this week, when rival drugmaker Actavis Plc came back into the picture as a possible white knight for Allergan. Meanwhile, a separate person...
Some of the names on the move ahead of the open.
Dow Jones is reporting citing sources that Valeant and Pershing Square plan to boost their bid for Allergan by around $15 per share. CNBC's Dominic Chu has the details.
Take a look at some of Tuesday's after hours buzz: Kraft, Yahoo, Yum & more
NEW YORK, Oct 7- Actavis Plc plans to make a new approach for Allergan Inc about a potential merger, as the Botox maker warms up to the possibility of a sale, said people familiar with the matter. Actavis, which held informal conversations with Allergan in recent months about a possible combination, would like to take a hard look at buying the company and could reach...
According to Reuters, Actavis plans to make a new approach for a takeover of Allergan. CNBC's Dominic Chu reports Allergan would be open to sale at a price over $200 a share.
Some of Tuesday's midday movers:
NEW YORK, Oct 3- Salix Pharmaceuticals Ltd, citing a "changed political environment," said on Friday it had scrapped a deal with Italy's Cosmo Pharmaceuticals SpA that would have allowed it to shift its tax base from the United States to Europe. In recent months, Salix has also been pursued by Allergan Inc as the Botox maker seeks to fend off a $53 billion hostile...
Raleigh, North Carolina- based Salix, which makes drugs for gastrointestinal disorders, said in July it would merge with Cosmo's Irish subsidiary, a deal that would allow Salix to move its tax domicile abroad in a practice known as inversion. The development path of the pipeline continued in the meantime, so this termination has no effect on value creation, "said...
Goldman Sachs led the way in global deal-making in the first nine months of 2014, advising on 30.7 percent of all mergers and acquisitions.
BOSTON/ NEW YORK, Oct 1- Prominent investor shareholder advisory firm ISS called on Allergan Inc to give its shareholders a chance to vote on any large, buyout-blocking acquisitions and said the company's board faced a credibility problem, according to a report seen by Reuters.
CNBC's David Faber reports on the strong statement from investor shareholder advisory firm ISS to Allergan about the importance of the shareholders' opinions on any buyout strategy.
Sept 29- Salix Pharmaceuticals Ltd said the U.S. Food and Drug Administration approved an expanded use of its constipation treatment. It will compete with Nektar Therapeutics and AstraZeneca Plc's oral drug Movantik, approved by the FDA earlier this month for the same patient population.
Sept 29- Salix Pharmaceuticals Ltd said the U.S. Food and Drug Administration approved an expanded use of its constipation treatment. Salix, which is merging with Cosmo Pharmaceuticals SpA's Irish subsidiary, is in talks with Allergan Inc and Actavis Plc about a potential sale, sources have told Reuters in recent weeks.
Another large shareholder of Botox-maker Allergan is expressing concern over the company's corporate governance amid its fight to hold off hostile acquirer Valeant.
Sept 26- T. Rowe Price, the second largest shareholder in Allergan Inc, said on Friday that it wants the company to hold off on making major moves before a Dec. 18 special shareholder meeting, and criticized the board's corporate governance.
Sept 25- Hedge fund ValueAct Capital said on Thursday it would return to the board of directors of Valeant Pharmaceuticals International Inc, which is pursuing a hostile takeover offer for Allergan Inc, and that it planned to increase its stake in the company.
Allergan Inc has also been in talks with Salix as it tries to fend off an unwanted bid from Valeant Pharmaceuticals Inc.. Allergan has questioned the sustainability of Valeant's growth and business model and "opaque" financial disclosures.