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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (449)	11/14/2004 9:38:39 PM
From: richardred	Respond to of 7256

Perrigo seems to have made its move! Agis expected to announce sale to Perrigo for $800m tonight The deal, in cash and shares, will be at a company value 10% above Agis's market cap. Nasdaq-listed Perrigo has a market cap of $1.3 billion. Shai Shalev and Hadas Magen 14 Nov 04 17:07 Sources inform “Globes” that Israeli pharmaceutical company Agis Industries (TASE:AGIS) is expected to announce the sale of its assets to US over-the-counter drug maker Perrigo Co. (Nasdaq:PRGO). Perrigo has a market cap of $1.3 billion. Merrill Lynch & Co. (NYSE:MER) mediated the deal. Under the expected agreement, Perrigo will take over Agis at a company value of $800 million, 10% above its market cap. Agis shareholders will receive cash and Perrigo stock. Perrigo is a major manufacturer over-the-counter (non-prescription) pharmaceutical and nutritional products for the store brand and contract manufacturing markets in the US, UK and Mexico. Perrigo has over 1,200 points of sales. Published by Globes [online] - www.globes.co.il - on November 14, 2004 Next article: CPI expected to rise 0.2% in Oct globes.co.il Older PR May 06, 2004 Ending without agreement of the negotiations with Ivax. The Company is evaluating various strategic options Further to the immediate reports dated February 12, 2004 and April 18, 2004, the Company would like to report that the negotiations referred to in the said reports were with Ivax Corporation Inc. from the US and they have ended without entering into a binding agreement due to circumstances that are not related to the mutual valuation of the two companies. However, as disclosed by the company in the said reports, the company is evaluating various strategic options including the acquisition of corporations in its fields of activity and/or cooperation with entities that complement the Company"s activities in Israel and abroad. This news item has been translated from the Hebrew for the convenience of English readers. Only the Hebrew original is authoritative. agisgroup.com