Valeant Pharmaceuticals International Inc. is in advanced talks to sell a big stomach-drug business to Japan’s Takeda Pharmaceutical Co. for about $10 billion, a move seen easing pressure on Valeant over its hefty debt load.
Sure, Valeant’s taking a $1 billion bath on this thing. But even that’s good news. Or at least what qualifies as good news for a company worth 10% of what it used to be.
Selling Salix for less than it paid in April 2015 could hand Valeant a loss it could use to offset gains from other asset sales.
And there’s more good news for Bill, as he’ll never have to hear from one of his hated rivals anymore after next year. Unfortunately, Carl Icahn likes the new guy and may not be in such a rush to get out of the stock.
Herbalife Ltd Chief Executive Michael Johnson will step down next year, capping a tumultuous 13-year tenure that was marked by a bitter fight with activist investor William Ackman….
Billionaire investor Carl Icahn, who disclosed a 20.78 percent stake in the company in August, said he fully supported the board's choice of Goudis as the next CEO.