Stifel Upgrades Perrigo Co. (PRGO) to Buy

Perrigo (PRGO) Comments on Results of Tender Offer; Will Commence $2B Stock Buyback

November 13, 2015 9:24 AM EST

Perrigo (NYSE: PRGO) responded to the news that holders of a majority of its shares rejected Mylan's hostile tender offer, thereby expressing confidence in Perrigo's long-term strategy, vision, and management plans for the future. Shareholders holding over 60% of Perrigo's outstanding shares refused to tender into Mylan's inadequate offer by today's 8 A.M. ET deadline.

Joseph C. Papa, Perrigo Chairman and CEO, stated, "We have... More

Perrigo (PRGO) plans to aggressively buyback stock at the open - CNBC

November 13, 2015 8:50 AM EST

Perrigo (NYSE: PRGO) plans to aggressively buyback stock at the open today, according to CNBC.

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Mylan's (MYL) Bid to Acquire Perrigo (PRGO) Fails as Fewer than 50% of Shares Tendered

November 13, 2015 8:42 AM EST

(Updated - November 13, 2015 8:44 AM EST)

Mylan (Nasdaq: MYL) announced that its offer to acquire all of the issued and to be issued share capital of Perrigo Company plc (NYSE: PRGO;) has lapsed.

As of 8:00 AM Eastern Time on November 13, 2015, 58,040,150 Perrigo ordinary shares, representing approximately 40 percent of outstanding Perrigo ordinary shares, were validly tendered in the offer. Accordingly, the acceptance condition to the offer, as outlined in the September 14, 2015 Offer to Exchange / Prospectus, has not been satisfied and the offer has lapsed in accordance with its terms. As the offer has... More

Mylan (MYL) Said 10M Shares Short of Winning 50.1% - CNBC's Faber (PRGO)

November 13, 2015 7:54 AM EST

Mylan (NASDAQ: MYL) said 10 million shares short of winning 50.1 percent in Perrigo (NYSE: PRGO) voting, according to CNBC's David Faber.

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Wall Street drops, posts worst week since August

November 13, 2015 7:36 AM EST

By Noel Randewich

(Reuters) - Wall Street fell sharply on Friday and capped off its worst week since the dark days of August, hurt by a selloff in technology companies, while department stores dropped on concerns about the upcoming holiday shopping season.

After the bell, U.S. stock index futures hit session lows in light volume, with market participants citing concerns over reports of deadly attacks in Paris.

"The geopolitical aspect is always out there, and anything that brings that back into the headlines will pull the buy orders fairly quickly," said Alan Lancz, president, Alan B.... More

Mylan (MYL) Said Set to Lose $26B Takeover Battle for Perrigo (PRGO) - WSJ

November 13, 2015 6:44 AM EST

Mylan (NASDAQ: MYL) is expected to fall short of the 50% share threshold in its Perrigo (NYSE: PRGO) tender offer, according to the Wall Street Journal, citing people familiar with the matter. The cash-and-stock offer expires Friday morning at 8 am.

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Perrigo (PRGO) Stock Offers More Upside Than Mylan (MYL) Deal - Guggenheim

November 11, 2015 4:14 PM EST

Guggenheim analyst Louise Chen reiterated a Buy rating and $230 price target on Perrigo Co. (NYSE: PRGO) ahead of Friday, saying the stock could offer more upside than the Mylan (NYSE: MYL) deal.

Chen commented, "We don't advise trading PRGO stock in for MYL (NEUTRAL, $45.44) shares. PRGO's... More