+------------------------------------------------------------------------------+
Teva Merger of Equals May Offer ‘Back-Up’ Option: Bernstein 2013-11-13 14:16:45.324 GMT
By Sasha Damouni and Clyde Eltzroth Nov. 13 (Bloomberg) -- Teva may see merger of equals as offering “further upside or back-up option” if co. unable to create value itself, Bernstein analyst Aaron Gal said in note. * Teva isn’t easy co. to buy given EV ($44b), home-country concerns, lack of interest in sale; co. still has low interest rates, lack of permanent mgmt, unhappy shareholders base * “Substantial synergies” to be achieved, especially if acquirer is another generic co. * TEVA 13 buys, 12 holds, 4 sells, avg PT $44: Bloomberg data * NOTE: Oct. 30, Teva CEO Jeremy Levin to Step Down
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
--Editor: Stefanie Batcho-Lino
To contact the reporters on this story: Sasha Damouni in New York at +1-212-617-7787 or sdamouni2@bloomberg.net; Clyde Eltzroth in New York at +1-212-617-1879 or celtzroth1@bloomberg.net
To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net