A California court says that Allergan raises serious questions as to whether Valeant and Pershing Square engaged in insider trading.

The judge nonetheless refused to grant Allergan an injunction disallowing Pershing Square, which is Allergan’s largest shareholder, from voting at the special meeting on December 18. This meeting could determine the future of Allergan’s executives, who strongly oppose the takeover bid from Valeant and Pershing Square.

In the meantime, Allergan has admitted to having been approached by another suitor about a potential merger, which would complicate an acquisition by Valeant. Sources familiar with the matter say the other company is Actavis.

Actavis is an American pharmaceutical company. Based in Ireland, it has a U.S. administrative headquarters in the United States.

For more information: http://agn.client.shareholder.com/releasedetail.cfm?ReleaseID=880337

http://www.theglobeandmail.com/report-on-business/california-court-reprimands-valeant-pershing-over-pursuit-of-allergan/article21441111/

 

The Danish company FLEYE wins the Good Design Award 2014, the most prestigious award for design in Japan.

It is the design details of the handmade model 4513 Luan that caught the attention of Japanese jury. The design of the patterns, the colour of the titanium, the shape of the nose pads, all elements of the glasses were designed to accommodate their functional role.

Carbon fiber is used in motorcycles, aircraft, yachts, and glasses. It is a light and strong material but cannot easily be adjusted. To overcome this weakness and to ensure a perfect fit, FLEYE designed a thin wire of flexible Japanese beta- titanium that loops across the nose bridge. The wire keeps the pads in place and can be adjusted.

More information: www.g-mark.org and www.fleye.dk

Essilor’s revenue rose to CA$1.59 million in the third quarter of 2014, a 14.5% increase over the same period last year.

In North America, sales increased by 7.1%, as the result of a communication strategy in the United States to promote its brands Varilux, Crizal, Transitions, and Xperio among independent optometrists.

The company reported an 11.2% increase in emerging markets, which counted for 22% of consolidated sales. Recent acquisitions, such as Xiamen Yarui Optical, Costa Inc., coastal.com and Transitions Optical, also contributed to increased growth.

For further information: http://www.essilor.com/fr/Press/News/Pages/Informationfinancieredu3emetrimestre2014.aspx

Quebec-based Valeant Pharmaceuticals has increased its takeover bid for Allergan from US$50 to nearly US$60 billion.

In a letter to Allergan, Valeant said that its offer could now be “at least US$200 a share.” However, the Quebec company has provided no further details, opening the door to speculation.

Valeant’s previous offer was US$82 plus a 0.83 of a Valeant share for each Allergan share. Many analysts think that the new offer is simply the projected higher valuation of Valeant’s own shares, rather than a true increase. Allergan executives were quick to emphasize this in its stinging reply.

For further information (in French only): http://affaires.lapresse.ca/resultats-financiers/201410/20/01-4810785-valeant-disposee-a-modifier-son-offre-sur-allergan.php