AbbVie May Raise Shire Bid to $250/Shr, Bernstein Says
2014-06-20 13:33:22.600 GMT
By Krysta Huber
June 20 (Bloomberg) -- AbbVie expected to increase takeover
offer for Shire a fourth time, $250/shr max price AbbVie could
pay, Bernstein analyst Aaron Gal says in note.
* SHPG disinterest a surprise
* Allergan may also bid for Shire, may be “tough,” deal
would still be accretive at $250/shr
* Bid higher than $230/shr may be “difficult for anyone to
pay”
* ABBV may offer added value to SHPG, cites CVR on
Lifitegrast, Premiplex
* Rates SHPG mkt perform, PT $155; rates AGN outperform, PT
$190
* NOTE: Earlier, Tax Synergies, Savings Limited in AbbVie-
Shire Tie-Up: Barclays; AbbVie’s Interest in Shire Is Mainly
Tax Driven: Jefferies
* NOTE: Earlier, Bloomberg said Abbvie Said to Weigh Higher
Offer for Shire After Bid Rejected
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Krysta Huber in New York at +1-212-617-0219 or
khuber9@bloomberg.net
To contact the editor responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
2014-06-20 13:33:22.600 GMT
By Krysta Huber
June 20 (Bloomberg) -- AbbVie expected to increase takeover
offer for Shire a fourth time, $250/shr max price AbbVie could
pay, Bernstein analyst Aaron Gal says in note.
* SHPG disinterest a surprise
* Allergan may also bid for Shire, may be “tough,” deal
would still be accretive at $250/shr
* Bid higher than $230/shr may be “difficult for anyone to
pay”
* ABBV may offer added value to SHPG, cites CVR on
Lifitegrast, Premiplex
* Rates SHPG mkt perform, PT $155; rates AGN outperform, PT
$190
* NOTE: Earlier, Tax Synergies, Savings Limited in AbbVie-
Shire Tie-Up: Barclays; AbbVie’s Interest in Shire Is Mainly
Tax Driven: Jefferies
* NOTE: Earlier, Bloomberg said Abbvie Said to Weigh Higher
Offer for Shire After Bid Rejected
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Krysta Huber in New York at +1-212-617-0219 or
khuber9@bloomberg.net
To contact the editor responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net