Hearing ackman took a 2bil stake in Gilead to push for this deal
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Gilead Should Buy Vertex Now for ~50% Premium, Bernstein Says 2015-04-21 12:26:17.766 GMT
By Catherine Larkin and Joshua Fineman (Bloomberg) -- Gilead buying Vertex would send both stocks up, Bernstein analyst Geoffrey Porges says in note. * GILD has a lot of cash and debt capacity and VRTX “by far” offers best fit * With 50% premium over VRTX’s recent stock price, a $45.5b cash/debt deal could add to GILD’s earnings after 2017, push GILD valuation to $135-$140/shr in N-T * Rates GILD outperform, PT $125; rates VRTX market perform, PT $134 * VRTX up as much as 3.1% pre-mkt to $129.49, on vol. 793; shrs had gained 5.7% YTD
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To contact the reporters on this story: Catherine Larkin in Chicago at +1-312-443-5968 or clarkin4@bloomberg.net; Joshua Fineman in New York at +1-212-617-8953 or jfineman@bloomberg.net To contact the editor responsible for this story: Arie Shapira at +1-212-617-1488 or ashapira3@bloomberg.net