Nothing but Horse Manure by CNBC. This time they were all talking about it for Hours. CNBC is a very Corrupt Media. Who paid them to report this doo.?
Although the bid for StJ is not true, Abt is fishing for some company....probably a company not well known...that's their usual strategy. Miles wants to acquire a company it is just a matter of which company is the best fit. Should hear something soon.
Why would it tank? Based on the last conference call I do not see Miles paying 21 - 22 X earnings for STJ when ABT is only 15 X. That does not make sense at all. If you stop and think about it it would be a bad deal and the stock would tank.
I listened to the conference call and this company is humming on all cylinders. CEO is bidding his time and evaluating M&A bolt ons. In the mean time will continue to park money in their Mylan stock received in the European generics sale.
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Miles reiterated today that ABT is happy with his investment in Mylan for the short run. Abbot appears to have set its sights on some undisclosed M&A targets. He also talked about the laws in The Netherlands make it almost impossible to do a hostile takeover and MYL investors should have researched those laws a little close. The ABT conference call is on their site.
Miles said nothing about specific M&A. Only that they are seriously looking and does not want to tip his hand as to where. They are happy short term with cash parked in Mylan.
ABT to buy BGMD??, have any hearing this statement. Apparently BGMD has a unique product that ABT started selling this moment. Let see if the conference will make mention of this.
As A Abbott Shareholder I would be disappointed if Abbott showed their hand before all the bids are in and the best offer is presented.
Are any ABT shareholders upset that ABT has announced they will not support a TEVA purchase of MYL? TEVA has offered $82 a share for MYL and is expected to increase that offer in the not to distant future. Meanwhile, even before TEVA's next offer ABT has said they will support MYL staying independent. MYL is now trading around $67.00. If I were an ABT shareholder, and I'm not, I'd be screaming at ABT's Board.
Your perspective please.