July 27, 2015 12:08 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Shares of
Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) surged to new 52-week highs of $69.05 Monday morning after the company announced its acquisition of
Allergan PLC (NYSE: AGN)'s Generics segment for a total consideration of $40.5 billion.Shares of Allergan also spiked to new 52-week highs of $334.38 as the company will receive $33.75 billion in cash and $6.75 billion of Teva stock, representing under a 10 percent ownership stake of Teva.Israeli-based Teva stated in a
presentation that its acquisition is expected to achieve cost synergies and tax savings of $1.4 billion annually. The deal is also expected to be double digit non-GAAP earnings per share accretive in 2016 and more than 20 percent accretion in years two and three following the closing of the deal.The combined companies will combine for a pro-forma revenue of approximately $26.0 billion and PF EBITDA of around $9.5 billion in 2016. Accordingly, the new entity will become a top-10 global pharmaceutical company.The deal marks the largest in Israel's corporate history and prompted the pharmaceutical giant to drop its $40 billion hostile bid for Mylan NV (NASDAQ: MYL).Shares of Mylan plunged more than 12 percent Monday morning as some investors were anticipating a sale of the company to Teva at the proposed $82 per share offer. The hostile bid met resistance from Mylan's executive team who argued that a merger has no "industrial logic" or "cultural fit."According to a report by Reuters, Mylan said it will continue pursuing its acquisition of
Perrigo Company plc Ordinary Shares (NYSE: PRGO). Investors reacted to the report as shares of Perrigo were trading higher by more than four percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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