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Roche Hostile Bid for Chugai Still Possible: Morgan Stanley MUFG 2014-08-17 20:37:18.379 GMT
By Sarah Gill Aug. 18 (Bloomberg) -- If media report of Roche buyout interest is true it is positive for Chugai shrs; is ~35% premium over current shr price if remaining stake bought at $10b: Morgan Stanley MUFG analyst Shinichiro Muraoka in a note * Restrictions on Roche’s stake have expired so Roche can change its stake without Chugai agreement * Rates Chugai overweight * Chugai 5 buys, 7 holds, 2 sells: Bloomberg data * NOTE: Chugai says it’s not in talks with Roche on buyout; Bloomberg earlier reported Roche said in talks to buy rest of Chugai in $10b deal * NOTE: Roche owned ~62% of Chugai as of June 30 * NOTE Friday Chugai ADRs rose 19% on 2,135 shrs; Chugai shrs rose 24% in Frankfurt trading on 2,527 shrs; Roche shrs fell 1%
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To contact the reporter on this story: Sarah Gill in sydney at +61-2-9777-8641 or sgill23@bloomberg.net To contact the editor responsible for this story: Jan Dahinten at +65-6212-1164 or jdahinten@bloomberg.net