Olivia's Feed
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.

Jun 12, 2014

Crafts retailer Michaels looks to long-awaited summer IPO: sources

By Greg Roumeliotis and Olivia Oran

(Reuters) – The initial public offering of Michaels Cos Inc, which has been planned for the last two years, will finally take place this summer, according to people familiar with the matter.

The U.S. crafts retailer is likely to begin marketing shares to potential investors in the next several weeks, according to the sources, who declined to be named because the matter is private.

Jun 11, 2014

Exclusive: Imperial eyes assets from possible Reynolds-Lorillard deal – sources

NEW YORK (Reuters) – Imperial Tobacco Group Plc (IMT.L: Quote, Profile, Research, Stock Buzz) is evaluating a deal for assets likely to be divested from Reynolds American Inc (RAI.N: Quote, Profile, Research, Stock Buzz) and Lorillard Inc (LO.N: Quote, Profile, Research, Stock Buzz) if the two U.S. tobacco companies proceed with a proposed combination, according to people familiar with the matter.

Reynolds and Lorillard are in advanced talks about a deal that would merge the No.2 and No.3 U.S. cigarette makers, Reuters previously reported. The companies have discussed divesting some brands to address potential antitrust concerns.

Jun 11, 2014

Imperial eyes assets from possible Reynolds-Lorillard deal -sources

NEW YORK, June 11 (Reuters) – Imperial Tobacco Group Plc
is evaluating a deal for assets likely to be divested
from Reynolds American Inc and Lorillard Inc if
the two U.S. tobacco companies proceed with a proposed
combination, according to people familiar with the matter.

Reynolds and Lorillard are in advanced talks about a deal
that would merge the No.2 and No.3 U.S. cigarette makers,
Reuters previously reported. The companies have discussed
divesting some brands to address potential antitrust concerns.