Olivia's Feed
Jun 27, 2014

Canned tuna company Bumble Bee eyes $1.5 bln sale-sources

NEW YORK, June 27 (Reuters) – Bumble Bee Foods is preparing
a sale process that could value North America’s largest producer
and marketer of canned tuna and sardines at as much as $1.5
billion, according to people familiar with the matter.

The company’s owner, private equity firm Lion Capital LLP,
is planning meetings with investment banks in the coming weeks
to appoint financial advisors who will run an auction for Bumble
Bee, the people said this week.

Jun 26, 2014

TreeHouse Foods in advanced talks to acquire Flagstone Foods-sources

June 26 (Reuters) – Private-label food retailer TreeHouse
Foods Inc is in late-stage talks to acquire Flagstone
Foods, a maker of dried fruits and nuts, for between $800
million and $900 million, people familiar with the matter said
on Thursday.

Oakbrook, Illinois-based TreeHouse Foods has prevailed over
Chinese private equity firm Hony Capital Co at the final stage
of the auction for Flagstone, which is owned by San
Francisco-based private equity firm Gryphon Investors, the
people said.

Jun 25, 2014

Exclusive: Paulson & Co amasses large stake in Allergan: sources

New York (Reuters) – Hedge fund Paulson & Co has amassed a large stake in Allergan Inc AGN.N of more than 6 million shares and supports a deal between the Botox maker and Valeant Pharmaceuticals Inc VRX.TO, people familiar with the matter said on Wednesday.

The position is expected to make the prominent U.S. hedge fund, led by John Paulson, one of the top 10 to 15 holders of Allergan, according to Thomson Reuters shareholder data as of March 31.

Jun 25, 2014

Paulson & Co amasses large stake in Allergan: sources

New York, June 25 (Reuters) – Hedge fund Paulson & Co has
amassed a large stake in Allergan Inc of more than 6
million shares and supports a deal between the Botox maker and
Valeant Pharmaceuticals Inc, people familiar with the
matter said on Wednesday.

The position is expected to make the prominent U.S. hedge
fund, led by John Paulson, one of the top 10 to 15 holders of
Allergan, according to Thomson Reuters shareholder data as of
March 31.

Jun 25, 2014

U.S. fast-food chain Del Taco explores sale -sources

NEW YORK, June 25 (Reuters) – U.S. fast-food chain Del Taco,
which specializes in Mexican cuisine as well as American
favorites like burgers and fries, is in the early stages of
exploring a sale that could fetch more than $500 million, people
familiar with the matter said on Wednesday.

Founded in 1964, Lake Forest, California-based Del Taco owns
and operates 546 restaurants in 17 U.S. states. The majority of
them are in West Coast states including California and Oregon.

Jun 24, 2014

Exclusive: Aetna mulls sale of Coventry Health Care assets – sources

By Greg Roumeliotis and Olivia Oran

(Reuters) – Aetna Inc, the third largest U.S. health insurer, is exploring a sale of some of Coventry Health Care Inc’s assets worth as much as $1.5 billion, according to people familiar with the matter, a year after it acquired its rival for $5.6 billion.

Aetna is working with Bank of America Merrill Lynch on a sale process for Coventry’s workers’ compensation business that is expected to attract interest from other companies in the sector as well as private equity firms.

Jun 19, 2014

AbbVie approaches Shire about possible takeover-sources

NEW YORK, June 19 (Reuters) – U.S. drugmaker AbbVie Inc
has recently approached London-listed Shire PLC
about a potential takeover, according to people familiar with
the matter, marking the latest attempt by U.S. healthcare
companies looking to acquire overseas rivals partly to lower
their tax rates.

AbbVie, which makes rheumatoid arthritis drug Humira, has a
market capitalization of around $86 billion, while Shire has a
market capitalization of roughly $38 billion.

Jun 19, 2014

Exclusive: AbbVie approaches Shire about possible takeover – sources

NEW YORK (Reuters) – U.S. drugmaker AbbVie Inc (ABBV.N: Quote, Profile, Research, Stock Buzz) has recently approached London-listed Shire PLC (SHP.L: Quote, Profile, Research, Stock Buzz) about a potential takeover, according to people familiar with the matter, marking the latest attempt by U.S. healthcare companies looking to acquire overseas rivals partly to lower their tax rates.

AbbVie, which makes rheumatoid arthritis drug Humira, has a market capitalization of around $86 billion, while Shire has a market capitalization of roughly $38 billion.

Jun 16, 2014

Morgan Stanley called Valeant ‘house of cards’ in Allergan pitch

NEW YORK (Reuters) – Morgan Stanley, an adviser to Valeant Pharmaceuticals International Inc in its $53 billion hostile bid for Allergan Inc, initially tried to get hired by Allergan and in its pitch called the unsolicited bidder a “house of cards”, according to Allergan.

The Botox maker released email exchanges with Morgan Stanley bankers on Monday, which reveal the bankers were pitching for a defense assignment from Allergan, offering advice as to how the company could successfully defend the unwanted suitor.

Jun 14, 2014

Valeant senior official leaves amid Allergan takeover battle

June 14 (Reuters) – An executive vice-president of Valeant
Pharmaceuticals International Inc will leave the
company, even as the Canadian drugmaker fends off criticism
about management turnover from its takeover target Allergan Inc
.

Executive vice-president and company group chairman Ryan
Weldon will leave, Valeant confirmed late on Friday after
inquiries by Reuters. Like Chief Executive Mike Pearson, Weldon
previously worked for management consulting firm McKinsey & Co.