Olivia's Feed
Nov 20, 2014

Jana Partners lines up five executives to serve on PetSmart board: filing

By Nadia Damouni and Olivia Oran

(Reuters) – Jana Partners LLC has lined up five executives who are willing to serve as directors on PetSmart Inc’s board if the activist hedge fund is not satisfied with the outcome of the pet food retailer’s strategic review, the fund said in a filing on Thursday.

Jana, which has a 9.8 percent stake in PetSmart, may nominate former Caremark executive Edwin “Mac” Crawford; former RadioShack Corp Chief Executive Officer Julian Day; former Harris Teeter CEO Thomas Dickson; One Kings Lane co-founder Susan Feldman; and former Wal-Mart Stores Inc executive Lawrence Jackson. Jana could also nominate a representative from its own fund, people familiar with the matter said.

Nov 17, 2014

Losing Allergan deals blow to Valeant reputation

WINNIPEG/NEW YORK (Reuters) – The failure of Valeant Pharmaceuticals International Inc to buy Allergan Inc leaves it with nothing to show for a seven-month, bruising pursuit.

Losing Allergan to Actavis PLC also hurts Valeant’s deal-making reputation, said a source close to the company not authorized to speak publicly.

Nov 16, 2014

Allergan near buyout of up to $65 bln to escape Valeant, Ackman -source

Nov 16 (Reuters) – Allergan Inc is close to a buyout
deal worth up to $65.5 billion by Actavis Plc, one that
could end months of pursuit by Canada’s Valeant Pharmaceuticals
and William Ackman’s hedge fund, Pershing Square
Capital Management, according to a person familiar with the
matter.

Actavis may pay Allergan between $215 and $220 per share,
with the final price likely coming at the high end of that
range, according to the source. A deal could be announced as
early as Monday, the source said.

Nov 10, 2014

Cosmetics company Too Faced up for sale: sources

By Olivia Oran

(Reuters) – Too Faced Cosmetics LLC, best known for its Better than Sex mascara, bronzers and false lashes, is exploring a sale that could value it at several hundred million of dollars, according to several people familiar with the matter.

The Irvine, California-based cosmetics company, which is partially owned by private equity firm Weston Presidio, is working with investment bank Piper Jaffray on the sale process, which is expected to kick off early next year, the people said.

Nov 7, 2014

Salix inventory issues sink deal with Allergan

Nov 6 (Reuters) – Salix Pharmaceuticals Ltd slashed
its full-year forecast on Thursday and said inventory for its
key drugs piled up, an issue that people familiar with the
matter said dissuaded Allergan Inc Inc from acquiring
the drugmaker.

The two companies were close to inking a deal, but Botox
maker Allergan balked after its due diligence raised questions
over inventory levels, the people said, requesting anonymity
because the negotiations were confidential.

Oct 22, 2014

Exclusive: Advent, Avista near deal for UCB’s Kremers Urban – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – A consortium of buyout firms Advent International Corp and Avista Capital Partners is in advanced talks to acquire UCB SA’s (UCB.BR: Quote, Profile, Research, Stock Buzz) U.S. generic drugs unit Kremers Urban Pharmaceuticals Inc, according to people familiar with the matter.

Advent and Avista have prevailed in an auction for Kremers Urban, which attracted interest from other private equity firms as well as specialty drugmaker Akorn Inc (AKRX.O: Quote, Profile, Research, Stock Buzz), the people said this week.

Oct 22, 2014

Advent, Avista near deal for UCB’s Kremers Urban-sources

Oct 22 (Reuters) – A consortium of buyout firms Advent
International Corp and Avista Capital Partners is in advanced
talks to acquire UCB SA’s U.S. generic drugs unit
Kremers Urban Pharmaceuticals Inc, according to people familiar
with the matter.

Advent and Avista have prevailed in an auction for Kremers
Urban, which attracted interest from other private equity firms
as well as specialty drugmaker Akorn Inc, the people
said this week.

Oct 20, 2014

Exclusive: Vitamin Shoppe in talks to hire bank amid activist pressure – sources

By Olivia Oran and Greg Roumeliotis

(Reuters) – Vitamin Shoppe Inc (VSI.N: Quote, Profile, Research, Stock Buzz), the nutritional supplement retailer under activist shareholder pressure to consider a sale, is speaking to investment banks about hiring a financial adviser, according to people familiar with the matter.

The scope of a bank’s mandate is not yet clear, and Vitamin Shoppe may decide against such a move, the sources said on Monday. However, the talks illustrate the retailer is trying to formulate a response to requests made by some big shareholders.

Oct 20, 2014

Top Allergan holder Paulson urges deal with Shire -sources

Oct 20 (Reuters) – Allergan Inc shareholder Paulson
& Co is urging the Botox maker to merge with specialty
pharmaceutical company Shire Plc as an alternative to a
deal with hostile bidder Valeant Pharmaceuticals International
Inc, according to two people familiar with the matter.

The hedge fund, which earlier supported a deal with Valeant,
told Allergan CEO David Pyott that it would now support a deal
with Shire, the sources said. It was not immediately clear
whether Allergan would pursue such a deal.

Oct 20, 2014

Exclusive: Allergan shareholder Paulson & Co urges deal with Shire – sources

By Olivia Oran

(Reuters) – Allergan Inc (AGN.N: Quote, Profile, Research, Stock Buzz) shareholder Paulson & Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc (SHP.L: Quote, Profile, Research, Stock Buzz) as an alternative to a deal with hostile bidder Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz), according to two people familiar with the matter.

   The hedge fund told Allergan CEO David Pyott that it would support a deal with Shire, the sources said. The deal would not be structured as a so-called tax inversion, the people said.