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Credit Suisse Speculates about 'Outside Interest' in Omnicare (OCR)

June 6, 2013 11:44 AM EDT
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Price: $97.90 --0%

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    2 Buy, 8 Hold, 0 Sell

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    Up: 9 | Down: 7 | New: 39
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Credit Suisse analyst Glen Santangelo put out a note today that raises M&A speculation at Omnicare (NYSE: OCR). Santangelo believes the company's decision to adopt a senior executive change-in-control provision signals outside interest.

Clearly a change-in-control provision is not necessarily a harbinger of M&A, but it a good predictor. Potential buyers could include Cardinal Health (NYSE: CAH) or McKesson Corp (NYSE: MCK). PBM or a drug retailer would also make sense, thinks Santangelo.

Credit Suisse has an Outperform rating on Omnicare with a price target of $52.00.

For an analyst ratings summary and ratings history on Omnicare (NYSE: OCR) click here. For more ratings news on Omnicare click here.

Shares of Omnicare closed at $45.41 yesterday.


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