Olivia's Feed
Apr 30, 2015

Exclusive: Pfizer is mystery bidder for rare disease drugmaker Sobi – sources

NEW YORK/LONDON (Reuters) – Pfizer Inc (PFE.N: Quote, Profile, Research, Stock Buzz) is the mystery bidder for Swedish Orphan Biovitrum AB (SOBIV.ST: Quote, Profile, Research, Stock Buzz), the rare disease specialist which disclosed this week that a potential buyer had made a preliminary offer, people with knowledge of the situation said.

    The Swedish company, known as Sobi, has a market value of 35.8 billion Swedish crowns ($4.3 billion). Its medicines for rare or “orphan” conditions make it a target in a consolidating sector in which large, cash-rich drugmakers seek to bolster their portfolios with offerings from smaller biotech firms.

Apr 29, 2015

Exclusive – Perrigo expected to reject Mylan’s latest offer: source

By Nadia Damouni and Olivia Oran

(Reuters) – Generic drugmaker Perrigo Company Plc (PRGO.N: Quote, Profile, Research)> is expected to reject the latest offer made on Wednesday by Mylan NV (MYL.O: Quote, Profile, Research), according to a person familiar with the matter.

Perrigo shareholders would receive $75 (£48.56) in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share under Mylan’s latest offer. Perrigo sees this offer to be worth only $202.21 based on Mylan’s unaffected March 10 share price of $55.31, before speculation over Teva Pharmaceuticals Ltd’s (TEVA.TA: Quote, Profile, Research) interest in Mylan intensified, according to the source.

Apr 29, 2015

Perrigo expected to reject Mylan’s latest offer: source

By Nadia Damouni and Olivia Oran

(Reuters) – Generic drugmaker Perrigo Company Plc (PRGO.N: Quote, Profile, Research, Stock Buzz)> is expected to reject the latest offer made on Wednesday by Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz), according to a person familiar with the matter.

Perrigo shareholders would receive $75 in cash and 2.3 Mylan ordinary shares for each Perrigo ordinary share under Mylan’s latest offer. Perrigo sees this offer to be worth only $202.21 based on Mylan’s unaffected March 10 share price of $55.31, before speculation over Teva Pharmaceuticals Ltd’s (TEVA.TA: Quote, Profile, Research, Stock Buzz) interest in Mylan intensified, according to the source.

Apr 28, 2015

Exclusive: Aaron’s spurns Rent-A-Center takeover approaches – sources

By Mike Stone and Olivia Oran

(Reuters) – Aaron’s Inc (AAN.N: Quote, Profile, Research, Stock Buzz), a U.S. electronics and furniture rental chain, has turned down several informal takeover approaches in the last 12 months from peer Rent-A-Center Inc (RCII.O: Quote, Profile, Research, Stock Buzz), according to people familiar with the matter.

The rent-to-own retail sector has suffered in the last few years, as low-income customers cut spending. Rent-A-Center’s overtures illustrate that mounting competition is putting pressure on some retailers to consider acquisitions.

Apr 21, 2015

Top Mylan shareholders seek deal with Teva -sources

April 21 (Reuters) – Some of the top investors at Mylan NV
, including Paulson & Co, are encouraging its board of
directors to consider a takeover proposal from rival Teva
Pharmaceutical Industries Inc, according to people
familiar with the matter.

A handful of these investors have expressed their support in
recent weeks for the creation of the world’s largest generic
drug maker by sales, these people said, declining to be named
because they were not authorized to speak to the media.

Apr 21, 2015

Exclusive: Top Mylan shareholders seek deal with Teva – sources

By Olivia Oran and Nadia Damouni

(Reuters) – Some of the top investors at Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz), including Paulson & Co, are encouraging its board of directors to consider a takeover proposal from rival Teva Pharmaceutical Industries Inc (TEVA.TA: Quote, Profile, Research, Stock Buzz), according to people familiar with the matter.

A handful of these investors have expressed their support for such a deal in the last few weeks, even before Teva unveiled an unsolicited $40 billion takeover proposal on Tuesday for the Canonsburg, Pennsylvania-based company, these people said, declining to be named because they were not authorized to speak to the media.

Apr 21, 2015

Exclusive: Perrigo expected to reject Mylan offer as soon as this week – source

By Nadia Damouni and Olivia Oran

(Reuters) – Perrigo Company PLC is set to reject a $29 billion unsolicited takeover offer from generics drugmaker Mylan NV as soon as this week, according to a source familiar with the matter.

A rejection leaves Mylan with no immediate alternative to a takeover offer from Teva Pharmaceutical Industries Ltd which went public on Tuesday with a $40 billion unsolicited proposal for the Canonsburg, Pennsylvania-based rival.

Apr 21, 2015

Perrigo expected to reject Mylan offer as soon as this week -source

April 21 (Reuters) – Perrigo Company PLC is set to
reject a $29 billion unsolicited takeover offer from generics
drugmaker Mylan NV as soon as this week, according to a
source familiar with the matter.

A rejection leaves Mylan with no immediate alternative to a
takeover offer from Teva Pharmaceutical Industries Ltd
which went public on Tuesday with a $40 billion unsolicited
proposal for the Canonsburg, Pennsylvania-based rival.

Apr 17, 2015

Patterson seeks sale of rehabilitation supply unit: sources

By Greg Roumeliotis and Olivia Oran

(Reuters) – Medical device supplier Patterson Companies Inc is looking to sell its rehabilitation supply business in a deal that could fetch between $500 million and $600 million, people familiar with the matter said on Friday.

Saint Paul, Minnesota-based Patterson has hired investment bank Bank of America Corp to assist with the potential sale, the people said, asking not be named because the matter is private.

Apr 15, 2015

Exclusive: Henkel, Revlon, Coty prepare bids for P&G beauty brands -sources

By Olivia Oran, Arno Schuetze and Martinne Geller

(Reuters) – Personal care and cosmetics companies Henkel & Co KGaA AG, Revlon Inc and Coty Inc are preparing bids for parts of Procter & Gamble Co’s beauty business, according to sources.

The three companies are working with investment banks ahead of a first-round bid deadline set for next week, the sources said on Wednesday. A successful sale would allow P&G to focus on more profitable consumer brands such as its Gillette razors, Tide detergent and Pampers disposable diapers.