Standalone Allergan (AGN) Could Be Worth $300 - RBC
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April 7, 2016 8:41 AM EDT
UBS analyst, Marc Goodman, cited Allergen (NYSE: AGN) as a standalone company as one of his favorites. He thinks management said all the right things regarding capital deployment, M&A aggressiveness, cost cutting, its commitment to a R&D-driven business model, and its preparedness for this contingency (i.e., a deal break).... More
April 6, 2016 11:29 AM EDT
Piper Jaffray analyst David Amsellem reiterated his Overweight rating while trimming his price target on Allergen (NYSE: AGN) to $311.00 (from $333.00) after the collapse of the Pfizer deal. The analyst sees ample room for valuation creation post--Pfizer.
"With the collapse of the merger between Allergan... More
April 6, 2016 10:42 AM EDT
BMO Capital reiterated an Outperform rating and $39.00 price target on Pfizer (NYSE: PFE) following the company's announcement the merger agreement with Allergan plc was terminated. BMO believes that Pfizer will likely look for more deals to strengthen its innovative business, and the recent weakness... More
April 6, 2016 6:47 AM EDT
Allergan plc (NYSE: AGN) announced that its merger agreement with Pfizer (NYSE: PFE) has been terminated by mutual agreement, effective . In connection with the termination of the merger agreement, Pfizer has agreed to pay Allergan $150 million for reimbursement of expenses associated with the transaction.
Allergan reiterated its compelling standalone growth profile and strategy following the announced termination of the combination of the two companies. Allergan is positioned to drive strong, sustainable growth powered by leading franchises, new potential blockbuster product launches and unmatched pipeline.
"While we... More
April 6, 2016 6:45 AM EDT
Pfizer Inc. (NYSE: PFE) announced that the merger agreement between Pfizer and Allergan plc (NYSE: AGN) has been terminated by mutual agreement of the companies. The decision was driven by the actions announced by the U.S. Department of Treasury on April 4, 2016, which the companies concluded qualified as an Adverse Tax Law Change... More
