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What just happened? Massive 6% drop :-/
.... and I'm not sure this is over yet...
thankfully shp sp hasn't suffered too much today from allergan pulling out. A price of 38+ is an improvement over last weeks range of 35 - 36
Allergan may not be making a formal bid at the moment as I suspect they don�t want a bidding war for shire expect they will be buying shire shares as low as they can and come back. but there may be other companies circling as well.
My guess would be open in the region of c�37.50 to c�38...as to thereafter pretty impossible to call. ATB, Scfc
Allergan changed their mind within 4 hours of saying they were intrested in shire. Could have kept quiet for a couple of days..... Oh well, my prediction was completely wrong :-(
Its being reported that it was shareholder pressure about being overstretched that brought the curtain down on any possible allergan bid
There will be other bidders including allergan. Whatever source said it wont , is unreliable. Allergan gave a statement only a few hours ago saying they might and before close of play in usa they are being remoured to not consider bidding for shire. Makes allergan look a company being run by children.
The takeda deal isnt for me so if theres not going to be another more realistic buyer id rather shire got on with business.
Article about 15 minutes ago reads: for Shire" as part of a broader review of its strategic options. Shares of the drugmaker declined as much as 8.5 percent on Thursday, though those losses were pared after CNBC reported in the early afternoon citing unnamed sources that Allergan wouldn't bid for Shire. Earlier, Takeda said it offered 46.50 pounds ($66.16) a share for Shire on April 12, with 62 percent of the proposed price in new Takeda stock. Shire said its board and advisers felt the proposed terms "significantly undervalue the company and Shire's growth prospects and pipeline," though it's willing to keep negotiating. Shire shares traded in London were up 5.9 percent.
That said, allergan boss is described as: Saunders is one of the most prolific dealmakers in the drug industry, having either or attempted orchestrated some of the biggest prospective mergers in recent years. He first became a CEO in 2010 for Bausch & Lomb before selling the eyecare company to Valeant Pharmaceuticals International for $8.7 billion three years later.
Not put that in writing yet though have they,
https://www.cnbc.com/video/2018/04/19/allergan-will-not-bid-for-shire-sources-tell-cnbc.html
Allergan sp still down over 4%...
The big question needing answered is why the sudden change of heart .
My prediction of another green day tomorrow has just been ruined....:-/
The SP on the Nasdaq has now fallen by over 8% from its peak today - so would be amazed if it�s not true now...although I was amazed by the �46.50 offer from Takeda! I read that even at this revised value the Shire BOD said it was unanimously rejected as it significantly undervalued the company/pipeline.. Will be interesting to see what happens to Takeda SP overnight - still can�t believe they bid c$20bn over the value of their own market cap! Scfc
Maybe but that's a rumour, not official so far.
Thats bad news . Unless a deal is being made elsewhere.
163 dollars on nasdaq puts it at just over �38. So disappointing
Just reported on Bloomberg Live.
rules itself out..expect drop tomm
As a long term holder ordinarily I'd want to hold out for �54 minimum but things being as they with sentiment and the CEO's performance I'd be willing to see Shire change hands at �48 or so as long as half was cash and the rest was paper from a decent quality company with strong management like Allergan. If I haven't misunderstood I think a cash and equity deal can be more tax efficient as well for larger holdings. Maybe someone could inform us properly?
I see yet another green day. You wouldn't wanna be out of shp over the weekend.
Will depend on what if any news comes out . Imo theyll be more than 2 parties interested and this could last a while. Bids over 50 being talked about but lets just wait and see .