UNCOOKED ALERT: Perrigo Company PLC said to ... - Part 2
Perrigo Company PLC, the US-listed generics drug maker, has come back under the spotlight amid a fresh round of takeover talk.
In early April this year Betaville Intelligence reported talk that Stada Arzneimittel AG was circling Perrigo.
However, talks eventually faltered, said people following the situation.
People following the situation have now heard rumours Stada and its private equity owner CapVest may have rekindled their interest in buying Perrigo, whose headquarters are in Dublin, Ireland for tax purposes.
The speculation arrives after the Perrigo's chief executive and president, Patrick Lockwood-Taylor, left earlier the business earlier this week after the board found his personal conduct had violated company code.
Some people following the situation had heard Stada and CapVest may even be looking at carrying out a 'bear hug' or launching a quasi hostile takeover offer after talks faltered earlier this year.
Advisers from JP Morgan and Citigroup are rumoured to be working on the potential deal, said people following the situation.
Readers should be aware that Perrigo's shares have risen 6.5pc this week, so some of the takeover rumour may already be priced into the stock.
To be clear, this story is UNCOOKED. I have pasted the definitions of UNCOOKED below in case you don't recall their definitions.
UNCOOKED: Market gossip as Betaville receives it. This scuttlebutt has just come in and hasn't been checked with all of Betaville's well-informed RARE sources let alone formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop, rubbish or nonsense - but then again there may be something in it, so it's worth airing on Betaville.