Actelion May See Other Suitors in Short-Term: Berenberg
2015-06-08 09:18:29.848 GMT
By Allison Connolly
(Bloomberg) -- Shares extend gains, up as much as 8.6%, the
highest on record and the biggest intraday gain since June 16;
leads SXDP gainers.
* Berenberg (buy, PT CHF135) says reported bid of CHF160/shr
is justified, assuming an acquirer would substantially cut
R&D and G&A expenses, leading to valuation increase to
CHF162/shr
* Says a serious offer could come at a more substantial
premium of between CHF180-CHF200/shr
* Says Actelion has long been viewed as a takeover target, and
reported approach may encourage other players to come
forward with offers in the short-term
* NOTE: Earlier, Actelion Rises to Record After Report it
Rebuffed Shire Approach
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
2015-06-08 09:18:29.848 GMT
By Allison Connolly
(Bloomberg) -- Shares extend gains, up as much as 8.6%, the
highest on record and the biggest intraday gain since June 16;
leads SXDP gainers.
* Berenberg (buy, PT CHF135) says reported bid of CHF160/shr
is justified, assuming an acquirer would substantially cut
R&D and G&A expenses, leading to valuation increase to
CHF162/shr
* Says a serious offer could come at a more substantial
premium of between CHF180-CHF200/shr
* Says Actelion has long been viewed as a takeover target, and
reported approach may encourage other players to come
forward with offers in the short-term
* NOTE: Earlier, Actelion Rises to Record After Report it
Rebuffed Shire Approach
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net