Allergan Seen Making ‘Imminent’ Bid for Shire: SunTrust Robinson
2014-06-18 11:25:34.225 GMT
By Catherine Larkin
June 18 (Bloomberg) -- Allergan’s bid will be more
attractive than Valean’t proposal, allow more upside without
risk of holding VRX shrs, SuntTrust Robinson Humphrey analyst
John T. Boris said in note.
* Friendly AGN + SHPG deal will be viewed more favorably,
provide “more transparent and sustainable organic growth”
* Sees SHPG holders owning 30% of combined co., above tax
inversion threshold, assuming half stock/cash deal and 128m
shrs issued
* Rates AGN buy, PT $200; says combination with SHPG would be
valued at $210/shr base case or $233 in bull case
* NOTE: Yday, Valeant Says ‘There Is a Path to Shareholder
Vote’ on AGN Deal
* Shire Hires Citi as It Braces for Takeover Offers:
Reuters
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To contact the reporter on this story:
Catherine Larkin in Chicago at +1-312-443-5968 or
clarkin4@bloomberg.net
To contact the editor responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
2014-06-18 11:25:34.225 GMT
By Catherine Larkin
June 18 (Bloomberg) -- Allergan’s bid will be more
attractive than Valean’t proposal, allow more upside without
risk of holding VRX shrs, SuntTrust Robinson Humphrey analyst
John T. Boris said in note.
* Friendly AGN + SHPG deal will be viewed more favorably,
provide “more transparent and sustainable organic growth”
* Sees SHPG holders owning 30% of combined co., above tax
inversion threshold, assuming half stock/cash deal and 128m
shrs issued
* Rates AGN buy, PT $200; says combination with SHPG would be
valued at $210/shr base case or $233 in bull case
* NOTE: Yday, Valeant Says ‘There Is a Path to Shareholder
Vote’ on AGN Deal
* Shire Hires Citi as It Braces for Takeover Offers:
Reuters
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Catherine Larkin in Chicago at +1-312-443-5968 or
clarkin4@bloomberg.net
To contact the editor responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net