Tag:

Valeant

Latest Headlines

Latest Headlines

As legislator rails on potential Valeant-Allergan deal, Wall Street lines up to fund it

It remains to be seen whether unconventional M&A tactics from Valeant's takeover partner, Bill Ackman, will help the pair get a deal for Allergan done. But in the meanwhile, one lawmaker is putting heat on the SEC to consider revising the rules that allowed them.

Valeant-style cost cuts create win-win for Allergan shareholders, analysts say

With Monday's announcement that Allergan would chop jobs and cut research, Valeant says its acquisition target is taking a page from its own playbook. Allergan says it's just doing what it can to create value for shareholders. Call it what you want: According to analysts, the move is a win for Allergan investors--whether a deal gets done or not.

Defensive Allergan plots 1,500 job cuts, hikes forecast to fight off Valeant

Allergan's pulled back the veil on the restructuring it's hoping will lure shareholders away from Valeant's $53 billion hostile buyout bid. Among the blueprints: laying off 1,500 employees, or 13% of its global workforce--and leaving room for some potential acquisitions.

Ackman to Allergan shareholders: Valeant's offer won't last forever

Valeant may be offering $53 billion for Allergan now. But that bid might not be on the table by the time 2015 rolls around, Bill Ackman, head of Valeant takeover partner Pershing Square Capital Management, told the Botox maker's shareholders on a webcast Thursday.

If Allergan has a pickup to make, make it now, shareholders say

Allergan has said it's working on some plans of its own to give investors "most of what they want" instead of the $53 billion hostile bid that Valeant and lead Allergan shareholder Pershing Square have put before them. And if those plans include a pickup of its own, it better get to it, shareholders say.

Wall Street wonders what Shire is worth

The share prices of AbbVie and takeover target Shire keep drifting downward amid sustained uncertainty over a deal. A couple of healthcare investors we talked to feel the deal is by no means definite--a concern that is also reflected in the continued wide spread between the latest offer price and Shire's share price.

M&A spotlight: Allergan plots cost cuts to ward off Valeant, AbbVie may have to raise Shire bid--again

Allergan can't stop Valeant from attempting to round up enough support to call a special meeting, overturn its board and strike its takeover defenses. But it can make moves it believes will convince shareholders it's better off standing on its own two feet.

'Unpromising' Allergan drug projects headed for the chopping block--report

Allergan execs have made no secret of the fact that they've been planning to come up with a lean-and-mean game plan designed to prove to investors that they'd be much better off if they spurned Valeant's offer to buy the company and gut its R&D division. Citing sources close to the company,  Bloomberg  is reporting that the cutbacks should include work on its most "unpromising" programs in the pipeline.

Ackman puts forth his slate of new Allergan directors

Things are getting real in leading shareholder Pershing Square Capital Management's fight to overturn Allergan's board and install a new slate of directors more amenable to Valeant's $53 billion buyout offer. Monday, Pershing Square--run by Valeant's takeover partner, Bill Ackman--announced the proposed slate of 6 new directors it hopes will help it seal the deal.

Allergan trots out buybacks, deals and cuts in new offensive against Valeant buy

Allergan CEO David Pyott last week said his goal was to give shareholders "most of what they want" to keep them on his side of a takeover battle with Valeant Pharmaceuticals. Now, Allergan is trying to do just that, weighing a share buyback as part of a larger plan to dodge the Canadian pharma's hostile advances.