After confirming an unsolicited takeover bid from privately held investment firm Royalty Pharma in late February, Ireland-based Elan (NYSE: ELN ) announced today that its board has unanimously rejected the offer.
According to Elan, Royalty Pharma's offer, via its subsidiary Echo Pharma Acquisitions, was for "$11.25 or less" for each outstanding share of Elan stock. The deal valued Elan at approximately $6.7 billion.
Elan is advising its shareholders to "take no action in relation to the Echo Pharma Acquisition Limited [Royalty Pharma] offer" until Elan communicates with shareholders after the publication of Royalty Pharma's formal "offer document."
"The offer from Royalty Pharma grossly undervalues Elan's current business platform and our future prospects. As a result the Board unanimously and without reservation rejected the offer," Elan Chairman Robert Ingram was quoted as saying.
10 Best Healthcare Technology Stocks To Buy For 2014: Kyocera Corporation(KYO)
Kyocera Corporation develops, produces, and distributes ceramic, semiconductor, and electronic products for the information and communications markets, and environment and energy markets worldwide. The company offers thin ceramic based substrates; thin-film ceramic/alumina tape substrates; sapphire substrates; automobiles engine components; mechanical seals; and thread guides for yarn texturing machines; rings for fishing rods and nozzles; and papermaking machinery parts. It also provides various ceramic packages and components and LSI ceramic packages. In addition, the company offers solar energy products, cutting tools, medical and dental implants, and jewelry products and applied ceramic related products. Further, it provides miniature ceramic capacitors, tantalum capacitors, RF modules, and miniature timing devices; and connectors primarily for digital consumer equipment; thin-film products comprising thermal printheads, amorphous silicon photoreceptor drums, and LCDs for office automation equipment and industrial equipment; organic flip-chip packages for application specific integrated circuits; and system in a package substrates for mobile phone handsets. Additionally, the company offers base stations, terminals, and PHS mobile phone handsets; page printers, copying machines, and peripherals; electronic insulation materials and molded products; data center services for mobile phone content distribution services; and management consulting services, as well as involves in the telecommunications engineering business ranging from system development to design, construction, and maintenance services; and IT solutions business, that comprises network and system integration solutions. It distributes its products through its sales personnel and independent distributors. The company was formerly known as Kyoto Ceramic Kabushiki Kaisha and changed its name to Kyocera Corporation in 1982. Kyocera Corporation was founded in 1959 and is headquartered in Kyoto, Japan.
Advisors' Opinion:- [By Paul Goodwin]
Kyocera (KYO: 93.20, -0.80, -0.85%) makes products as different from each other as kitchen knives and dental implants. Most of its income comes from industrial ceramics, electronics components and telecom and networking equipment. Sales in recent quarters have increased by one-third on strong demand for consumer electronics, industrial equipment, cars and solar panels. According to Masaru Koshita of Barclay's Capital, who lifted his opinion of the shares to "overweight" from "equal weight" in early March, margins have greatly improved in the company's core businesses with the notable exceptions of telecom equipment and MLCCs, or multi-layer ceramic capacitors. Koshit a expects a return to profitability by year's end in the former business and a restructuring of the latter, both of which could give the stock a lift.
10 Best Healthcare Technology Stocks To Buy For 2014: Mdr Limited (A27.SI)
mDR Limited distributes and retails telecommunications devices and provides mobile related services. It distributes gadgets, and mobile devices and accessories. The company also provides prepaid card services; and after-market services, including retrofit, repair management, and technical services for consumer electronic products and mobile telecommunication equipment. As of November 26, 2012, it operated a network of approximately 50 retail stores under Handphone Shop, 3Mobile shops, Samsung and Nokia concept stores, and Gadget World brand names in Singapore. The company is based in Singapore.
Top Media Companies To Buy Right Now: Alix Resources Corp. (AIX.V)
Alix Resources Corp. engages in the acquisition, exploration, and evaluation of mineral properties in North America. It has an option to acquire up to 70% interest in the Golden Zone gold-silver-copper deposit that covers an area of 24,500 acres and is located in the Valdez Creek Mining District, Alaska. The company also has interests in the Money Rock/West Pogo project, which covers an area of 5,439 hectares and is located to the southeast of Fairbanks, Alaska. In addition, it has interests in the Cougar claims that cover an area of 2,550 hectares and are located to the northeast of Prince George in British Columbia, Canada, as well as has an option agreement to acquire a 100% interest in a portfolio of 5 properties in Yukon Territory, Canada. The company was formerly known as NPN Investment Group Inc. and changed its name to Alix Resources Corp. in August 2007. Alix Resources Corp. was incorporated in 2004 and is headquartered in Vancouver, Canada.
10 Best Healthcare Technology Stocks To Buy For 2014: Cache Inc.(CACH)
Cache, Inc., together with its subsidiaries, operates as a mall and Web based specialty retailer of women?s lifestyle sportswear and dresses in the United States. It offers eveningwear; casual and daytime sportswear, including tops, bottoms, and dresses; and accessories, such as jewelry, belts, and handbags under the Cache brand name. The company also provides its products online through its Web site, cache.com. As of March 22, 2012, it operated 267 stores in 43 states, Puerto Rico, and the U.S. Virgin Islands. Cache, Inc. was founded in 1975 and is headquartered in New York, New York.
10 Best Healthcare Technology Stocks To Buy For 2014: Royal Bk Of Canada Com Npv (RY.TO)
Royal Bank of Canada provides personal and commercial banking, wealth management, insurance, investor and treasury, and capital markets services worldwide. The company�s Personal & Commercial Banking segment provides personal financial services, business financial services, and cards and payment solutions. Its Wealth Management segment offers investment, trust, banking, credit, and other wealth management solutions to affluent, high net worth, and ultra high net worth clients; and asset management products and services directly to institutional and individual clients, as well as through distribution channels and third-party distributors. The company�s Insurance segment provides various life and health insurance, including universal life, term life, critical illness, disability, long-term care insurance, and group benefits; property and casualty insurance comprising home, auto, and travel insurance, as well as wealth accumulation solutions; and reinsurance products throug h retail insurance branches, field sales representatives, call centers, online network, independent insurance advisors, and travel agencies. Its Investor & Treasury Services segment offers global custody, fund, and pension administration; and a suite of products to institutional investors, as well as cash management, correspondent banking, trade finance, funding, and liquidity management services to financial institutions. The company�s Capital Markets segment is involved in the fixed income, foreign exchange, equity sales and trading, repos and secured financing, and commodities businesses, as well as engages in debt and equity origination, mergers and acquisitions advisory services, loan syndication, research, private equity, corporate lending, client securitization, and global credit businesses. This segment serves public and private companies, institutional investors, governments, and central banks. Royal Bank of Canada was founded in 1864 and is headquartered in Toront o, Canada.
10 Best Healthcare Technology Stocks To Buy For 2014: Victoria(VCP.L)
Victoria PLC engages in the manufacture and sale of carpets, carpet yarns, and floor coverings for the residential and commercial markets in the United Kingdom, Ireland, Australia, and Canada. The company offers tufted and woven carpets, green carpets, and rugs. It also supplies woven wilton broadloom carpets and carpet tiles for the corporate, hospitality, and commercial sectors; and Axminster carpets, and wilton and tufted carpets for the residential and contract sectors. In addition, the company engages in the import and distribution of wool and floor coverings. It sells its products under Victoria Carpets, Navan Carpets, Munster Carpets, Colin Campbell, and Nature?s Carpet brand names. Victoria PLC was founded in 1895 and is headquartered in Kidderminster, the United Kingdom.
10 Best Healthcare Technology Stocks To Buy For 2014: Louisiana Bancorp Inc.(LABC)
Louisiana Bancorp, Inc. operates as the holding company for Bank of New Orleans that provides commercial banking services to individuals and businesses primarily in southern Louisiana. It offers deposit accounts consisting of interest-bearing and non-interest-bearing checking, money market, savings, and certificate of deposit accounts. The company also originates one-to four-family, multi-family residential and commercial real estate mortgage, commercial, land mortgage, and construction loans, as well as consumer loans, including student loans, loans secured by deposit accounts, automobile loans, home improvement loans, unsecured personal loans, and home equity loans and lines of credit. As of December 31, 2010, it operated through its main office located in Metairie; and 2 full-service banking offices located in Metairie and New Orleans. The company was founded in 1909 and is headquartered in Metairie, Louisiana.
10 Best Healthcare Technology Stocks To Buy For 2014: Commerzbank Ak.dm50(CZB.L)
Commerzbank Aktiengesellschaft provides banking and financial services to private and corporate customers primarily in Germany, rest of Europe, the United States, and Asia. It accepts savings deposits and time deposits; and offers current accounts, as well as wealth management services, such as asset management and advisory services. The company also provides various services, including payments, flexible financing solutions, interest rate and currency management products, professional investment advisory services, and investment banking solutions primarily to small and mid-sized customers, the public sector, and institutional clients; and trade finance-related services. Its corporate banking products and services comprise financing, cash management, asset management, international business, and risk management, as well as online banking and market information services. In addition, the company offers asset based finance products and services consisting of asset management and leasing; real estate finance for investors and developers; ship financing; and public finance. Further, it provides cash services, trade services, banking products, and market products. Additionally, the company engages in the trading and sale of equity and commodity-related financial products; trading and sale of interest rate, credit, and currency instruments; and provision of arrangement and advisory services for securitisation solutions, and mergers and acquisitions, as well as for equity, debt, and hybrid instruments. It operates approximately 1,200 branches in Germany. The company was founded in 1870 and is headquartered in Frankfurt am Main, Germany.
10 Best Healthcare Technology Stocks To Buy For 2014: Rambler Metals And Mining Plc(RAB.V)
Rambler Metals & Mining PLC, a junior mining company, engages in the exploration and development of mineral properties in Canada. It principally holds a 100% interest in the Ming copper-gold mine located on Newfoundland and Labrador?s Baie Verte Peninsula. The company is based in Sutton, the United Kingdom.
10 Best Healthcare Technology Stocks To Buy For 2014: Cognex Corporation(CGNX)
Cognex Corporation provides machine vision products that capture and analyze visual information to automate tasks primarily in manufacturing processes. It operates in two divisions, Modular Vision Systems and Surface Inspection Systems. The Modular Vision Systems division develops, manufactures, and markets modular vision systems that are used to automate the manufacture of discrete items, such as cellular phones, aspirin bottles, and automobile wheels by locating, identifying, inspecting, and measuring them during the manufacturing process. The Surface Inspection Systems division develops, manufactures, and markets surface inspection vision systems that are used to inspect the surfaces of materials processed in a continuous fashion, including metals, papers, nonwoven, plastics, and glass. The company serves customers in factory automation, semiconductor and electronics capital equipment, and surface inspection markets. Cognex Corporation sells its products through direct sales force, as well as through a network of integration and distribution partners worldwide. The company was founded in 1981 and is headquartered in Natick, Massachusetts.
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