Celgene to Acquire Receptos, Advancing Leadership in Immune-Inflammatory Diseases
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Celgene (CELG), Receptos (RCPT) Deal Has Termination Fee of $230M
July 15, 2015 5:46 PM EDTCelgene's (NASDAQ: CELG) deal to acquire Receptos (NASDAQ: RCPT) has a termination fee of $230 million and a reverse termination fee of $400 million.
From the filing:
Upon termination of the Merger Agreement by Receptos or Celgene upon... More
S&P Lowers Outlook on Celgene (CELG) to Stable Following Receptos (RCPT) M&A Announcement
July 15, 2015 11:20 AM EDTStandard & Poor's Ratings Services affirmed its 'BBB+' corporate credit rating on Celgene (Nasdaq: CELG) and revised the outlook to stable from positive.
The rating affirmation is predicated on our expectation that Celgene will reduce leverage to 1.4x by the end of 2017 through EBITDA growth from its existing commercialized product portfolio. While contribution from Receptos is not expected until at least 2018, Celgene's financial performance continues to exceed our expectations and has given the company capacity to fund this acquisition with up to 100% debt. Moreover, Celgene's conservative financial policy has kept... More
Celgene (CELG) PT Raised to $142 at UBS on Receptos (RCPT); Only Worry is Competing Bid
July 15, 2015 9:02 AM EDTUBS analyst Matthew Roden reiterated a Buy rating and boosted his price target on Celgene (NASDAQ: CELG) to $142.00 (from $130.00) following the acquisition of Receptos.
Roden commented, "In our view, Celgene's acquisition of Buy-rated Receptos for $7.2bn ($232/share) is a positive, as it... More
UPDATE: Celgene (NASDAQ: CELG) Price Target Raised to $150 at RBC; Analyst Discusses Bull/Bear Case (RCPT)
July 15, 2015 8:50 AM EDT(Updated - July 15, 2015 8:58 AM EDT)
(Update corrects headline to say Celgene price target raised, not Receptos.)
RBC Capital maintained an Outperform rating on Celgene (NASDAQ: CELG) and raised its price target of $150.00 (from $135.00). Comments follows positive Q2 guidance and news Celgenee plans to acquire Receptos (NASDAQ: RCPT). Analyst Michael J. Yee thinks shares of Celgene will grind higher, and he discussed bull and bear arguments on the stock.
"Big Picture Bull Case: CELG should move higher as the Street appreciates this is a... More
BMO Capital Downgrades Receptos, Inc (RCPT) to Market Perform
July 15, 2015 7:22 AM EDTBMO Capital downgraded Receptos, Inc (NASDAQ: RCPT) from Outperform to Market Perform with a price target of $232.00.
For an analyst ratings summary and ratings history on Receptos, Inc click here. For more ratings news on Receptos, Inc click here.
Shares of Receptos, Inc closed at $207.18 yesterday.
... MoreCelgene (CELG) PT Lifted to $165 at Nomura on Receptos Deal
July 15, 2015 6:55 AM EDTNomura Securities analyst M. Ian Somaiya reiterated a Buy rating and boosted his price target on Celgene (NASDAQ: CELG) to $165.00 (from $146.00) after the company agreed to acquire Receptos (NASDAQ: RCPT) for $232 per share.
"We... More
Nomura Securities Downgrades Receptos, Inc (RCPT) to Neutral on Takeover
July 15, 2015 6:51 AM EDTNomura Securities downgraded Receptos, Inc (NASDAQ: RCPT) from Buy to Neutral with a price target of $232.00 (from $202.00) amid the Celgene takeover.
For an analyst ratings summary and ratings history on Receptos, Inc click here. For more ratings news on Receptos, Inc click here.
Shares of Receptos, Inc closed at $207.18 yesterday.
... MoreReceptos Deal Makes 'Perfect Sense' for Celgene (CELG), BMO Capital Says; PT to $191
July 15, 2015 6:36 AM EDTBMO Capital analyst Jim Birchenough weighed in on Celgene (NASDAQ: CELG) following last night's news about the acquisition of Receptos (NASDAQ: RCPT) for $232.00 per share. The analyst said the deal makes "perfect sense." He reiterated his Outperform... More
Receptos (RCPT) to Resume Trading at 5:30 PM
July 14, 2015 5:05 PM EDTReceptos (NASDAQ: RCPT) to Resume Trading at 5:30 PM
... MoreCelgene (CELG) to Acquire Receptos (RCPT) in $7.2B Deal
July 14, 2015 4:59 PM EDTCelgene Corporation (NASDAQ: CELG) and Receptos, Inc. (NASDAQ: RCPT) today announced the signing of a definitive agreement in which Celgene has agreed to acquire Receptos. Under the terms of the merger agreement, Celgene will pay $232.00 per share in cash, or a total of approximately $7.2 billion, net of cash acquired.
The acquisition of Receptos significantly enhances Celgenes Inflammation & Immunology (I&I) portfolio, further diversifies the Companys revenue beginning in 2019 and beyond, and builds upon Celgenes growing expertise in inflammatory bowel disease (IBD). The transaction adds Ozanimod, a novel, potential best-in-class,... More
