United Rentals (URI) to Review Strategic Alternatives; CEO to Retire in June
A look at the Wall Street rumor mill - Unfiltered. Most of the rumors posted on this blog will never, ever, ever come true. Many are BS. Even more are wishful thinking. YOU SHOULD NEVER BUY A STOCK ON A RUMOR - NEVER! GOT IT? NOW ENJOY.
BCE, Inc. (NYSE: BCE) is higher on reports from the New York Times and the Globe and Mail that 5.3% holder Ontario Teachers' Pension Plan approached Caisse de Depot et Placement du Quebec and the Canada Plan Investment Board about making a $45 billion bid for BCE. The reports also said the fund held talks will at least one private equity firm.
A follow-up report from Bloomberg, noted that Teachers' Fund said it isn't excluding anything on BCE (NYSE: BCE), executive says.
WR Hambrecht comments on M&A speculation surrounding Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA). The firm said, "With the news on Reuters that Merck KGaA wants 'binding offers' by the end of April and following our visit with Impax Labs' (OTC: IPXL) CFO this week, we share our thoughts about the relative probability of TEVA acquiring either or both companies."On Merck KGaA the firm said, "We believe it is unlikely that TEVA will acquire Merck KGaA's generic business for a combination of strategic, financial and competitive reasons and the timing just one year after closing IVAX, which will likely take at least another year to successfully integrate, seems to be an execution show stopper, in our view."
On Implax the firm said, "Impax, on the other hand, appears to be a much more plausible scenario which we would characterize as likely, perhaps as soon as Q3 this year, closing by year-end with upside to 2008 current guidance with additional strategic assets on the brand side that fit with TEVA's Neuroscience business. Our best guess is that TEVA will withdraw from the Merck KGaA bake-off in April and begin moving forward with Impax, as the most plausible near-term acquisition candidate."
In response to rumors private equity firm KKR was in talks to acquire BCE, Inc. (NYSE: BCE) the company said, "there are no ongoing discussions being held with any private equity investor with respect to any privatization of the Company or any similar transaction. BCE further stated the company has no current intention to pursue such discussions."
Rumors of a KKR takeover sent shares of BCE up over 10% in early action Thursday.