Rising change-in-control payments can prompt executives to push for a merger that may not benefit shareholders, critics say.
The $160 billion all-stock deal is the largest-ever tax inversion and pharmaceutical sector merger.
Germany’s finance minister muses on euro zone unified financial authority; Teva announces acquisition of Allergan’s generic drug business.
Viking Global, Glenview Capital and Visium profit as stocks like Actavis, Anthem and Cigna rise on takeover fever.
Group of 50 Tiger Cubs, Seeds and Grandcubs often invest in many of the same stocks. The big winner: Irish drugmaker Actavis.
The hedge fund firm leaves tech and Internet to others, goes long on pharma and biotech, with some drugstores thrown in.
Hurt last year by short trades like a number of other Tiger-related funds, the firm, with close ties to Lone Pine Capital, is going long.
Stephen Mandel, Jr.’s firm tries to balance negatives of stretched valuations against positives of companies using balance sheets to acquire.
Once Actavis completes its merger with Allergan, CEO Brenton Saunders will need to focus on getting the two companies’ cultures and strategies on the same page.