Bernstein Believes Mylan Could Offer $22/Share for Warner Chilcott, Calls Deal with Actavis More Likely
Bernstein analyst Aaron Gal issued a note Tuesday morning suggesting Warner Chilcott's (NASDAQ: WCRX) "willingness" for an all-share deal could cause other suitors to jump in for a possible bid. The analyst also pointed to benefits from tax synergies.
That being said, Gal believes a deal between Actavis and Warner is much closer to fruition than a Mylan deal.
Gal said Actavis could move into the $130 per share range amid the deal.
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