Allergan, Inc. (AGN) Surges on Ackman, Valeant Takeover Interest
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Increasingly Unlikely Allergen (AGN) Stays Independent - Piper Jaffray
April 23, 2014 8:44 AM EDTPiper Jaffray analyst David Amsellem boosted his price target on Neutral-rated Allergen (NYSE: AGN) from $109 to $164 amid takeover interest, saying staying independent is most likely not in the cards.
Amsellem commented, "In the wake of Valeant's hostile bid for Allergan, we... More
TD Securities Upgrades Valeant Pharmaceuticals (VRX) to Buy
April 23, 2014 7:23 AM EDTTD Securities upgraded Valeant Pharmaceuticals (NYSE: VRX) from Hold to Buy with a price target of $160.00 (from $145.00). The change follows news it is teaming with Bill Ackman to acquire Allergan.
Analyst Lennox Gibbs said, "The proposed transaction could substantially... More
JPMorgan Upgrades Allergen (AGN) to Overweight
April 23, 2014 6:35 AM EDTJPMorgan upgraded Allergen (NYSE: AGN) from Neutral to Overweight with a price target of $190.00 (from $130.00).
For an analyst ratings summary and ratings history on Allergen click here. For more ratings news on Allergen click here.
Shares of Allergen closed at $163.65 yesterday.
... MoreAllergan, Inc. (AGN) Issues Statement on Purported Valeant and Pershing Square Offer
April 22, 2014 6:24 AM EDTLate Monday, Allergan, Inc. (NYSE: AGN) issued a statement in response to news Valeant Pharmaceuticals (NYSE: VRX) and Pershing Square Capital plan to make a merger proposal. Allergan said they have yet to receive a offer and has had no discussions with either Valeant or Pershing Square with respect to this... More
Allergan, Inc. (AGN) Bid Could Come In Just Above $45B
April 21, 2014 5:16 PM EDTCNBC's David Faber reports that Valeant Pharmaceuticals' (NYSE: VRX) bid for Allergan, Inc. (NYSE: AGN) could come in just north of $45 billion, with 1/3 coming in cash.
NOTE: In his 13D filing, Ackman indicated that Valeant currently expects the cash component will total around $15 billion
... MoreBill Ackman Confirms Valeant (VRX) Merger Plans on Allergan (AGN) - 13D
April 21, 2014 5:00 PM EDTBill Ackman's Pershing Square filed its 13D on Allergan, Inc. (NYSE: AGN), confirming Valeant (NYSE: VRX) currently intends to propose a merger with the company. According to Ackman, Valeant has not yet determined the amount of cash and number of Valeant common shares it will offer, but it currently expects the cash component will total around $15 billion. Barclays and Royal Bank of Canada have indicated that they are prepared to deliver financing commitments covering the cash portion of the transaction at the time Valeant makes an offer.
Ackman reported... More
