Health and Healthcare
Allergan May Join Sector Takeover Waves (AGN, GSK, DNA, PFE, WYE, MRK, SGP)
Published:
Last Updated:
If the rumor mill has any truth to it, then Allergan Inc. (NYSE: GSK) may by the next biotech takeover target. There is roughly $150 billion in new equity investor capital that can be put to work in this space now that Genentech Inc. (NYSE: DNA) is being bought by Roche and that Pfizer Inc. (NYS: PFE) is buying Wyeth (NYSE: WYE) and that Merck & Co. (NYSE: MRK) is buying Schering-Plough (NYSE: intra-day trading trends for day traders and options volume at Volume Spike Investor. And then there is the deeper down assumed valuation assessments using forward P/E’s and other balance sheet data at Biohealth Investor.
Allergan has now just crossed over the 10 million share mark and shares are up 11.7% at $48.23. In today’s world of the market whip-around and the world of M&A, we won’t be shocked if Allergan denies the rumors saying they would rather be an acquirer. Nor would we be shocked if the company halts or just says “No Comment!” in response to this.
Jon C. Ogg
March 24, 2009
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
