Perrigo (PRGO) Misses Q1 EPS by 4c
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November 6, 2014 2:21 PM EST
Goldman Sachs maintained a Neutral rating on Perrigo Co. (NYSE: PRGO) with a price target of $145. Earlier Perrigo reported Q1 results and announced a deal to acquire Omega. In the view of analyst Jami Rubin, Omega is a good strategic fit, but he noted Q1 was another weak quarter.
"While we dont take a view on the likelihood of the deal closing, strategically we think the deal makes sense and as it would provide PRGO with the geographic... More
November 6, 2014 6:28 AM EST
Perrigo (NYSE: PRGO) and Omega Pharma NV, one of the largest OTC healthcare companies in Europe, headquartered in Nazareth, Belgium, today announced that they have entered into a definitive agreement in which Perrigo has agreed to acquire Omega for 3.6 billion, or $4.5 billion, comprised of the purchase of Omega's equity for 2.48 billion and the assumption of 1.1 billion in debt. The transaction, funded through a combination of cash, debt, and equity, will enhance Perrigo's leading OTC product offering and expand its distribution through Omega's strong established platform.
"The combination of these two great companies accelerates Perrigo's international growth... More
