Allergan (AGN) rejected the latest $53 billion takeover offer from Valeant Pharmaceuticals (VRX) and investor William Ackman's Pershing Square Capital Management. Botox-maker Allergan said the offer “substantially undervalues the company.”
RadioShack (RSH) reported a much wider-than-expected loss of $0.97 a share. Revenue also missed estimates, falling 13% from a year ago. The company continues to struggle to lure consumers to its stores. Same-store sales fell 14% in the first quarter. RadioShack CEO Joseph Magnacca said the company is "making progress" in turning itself around. The company has a pipeline of new products, and it has also been cutting costs and remodeling stores. We want to know what you think about RadioShack. Do you think RadioShack can survive? Vote in our poll, or leave a comment below or on Twitter.
Time Warner (TWX) is reportedly in talks to buy a stake in Vice Media for around $1 billion. Time Warner, whose former-publishing arm Time Inc. (TIME) had its first day of trading as a separate company yesterday, could combine Vice with its HLN network according to reports. Vice started out as a music magazine in 1994. Rupert Murdoch's 21st Century Fox bought a 5% stake in Vice for $70 million last year. That stake valued the company at $1.4 billion.
GoDaddy filed paperwork with the Securities and Exchange Commission for an IPO. The company hopes to raise $100 million, but that figure is just a placeholder until the offering date approaches. The paperwork for the domain registration company revealed the company lost $279 million in 2012, about $200 million in 2013 and $51 million in the first quarter this year.