Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

SunTrust Robinson Humphrey Cuts Mentor to Neutral from Buy

SunTrust Robinson Humphrey downgraded Mentor (MNT) to neutral from buy, after recent news that Medicis Pharmaceutical (MRX) rebuffed Mentor's offer to buy it for $2.2 billion.

Analyst Amit Hazan says he's puzzled by the structure and timing of the Mentor merger bid, which represents only a 9% premium to where Medicis Pharmaceutical was trading just two weeks ago (Medicis Pharmaceutical was pressured last week when Allergan (AGN) made a superior bid for Inamed (IMDC).) At the same time, he notes that Mentor shares were up by about 24% in November; he thinks its all-stock bid for Medicis Pharmaceutical poorly missed the mark. He believes Medicis Pharmaceutical is now squarely focused on acquiring Reloxin (a wrinkle cure similar to Botox) in the upcoming bidding war, and has no interest in a combination with Mentor unless it is Mentor that actually prevails in the Reloxin auction.

blog comments powered by Disqus