Q: David Maris of BMO is quoted as saying:
"As of now, we think the Valeant bid stands at a less than 50% probability of being successful, and we base this on our belief that the cost cuts announced are not credible.” There's also discussion about an Allergan golf course in California that may or may not exist (how could such a thing be hidden from public view?). This is the same guy who exposed Biovail's contorted explanation as to why they missed earnings, so he would seem to have some credibility. Also Bill Acker's past record on acquisitions is far from perfect.
I still hold VRX from the 2012-13 model portfolio. Would it be better to stand aside with this latest revelation? Thanks, J.
"As of now, we think the Valeant bid stands at a less than 50% probability of being successful, and we base this on our belief that the cost cuts announced are not credible.” There's also discussion about an Allergan golf course in California that may or may not exist (how could such a thing be hidden from public view?). This is the same guy who exposed Biovail's contorted explanation as to why they missed earnings, so he would seem to have some credibility. Also Bill Acker's past record on acquisitions is far from perfect.
I still hold VRX from the 2012-13 model portfolio. Would it be better to stand aside with this latest revelation? Thanks, J.