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Fly News Breaks for April 6, 2016
SHPG, BXLT
Apr 6, 2016 | 07:54 EDT
Cowen believes Baxalta's (BXLT) planned merger with Shire (SHPG) should still close mid-2016 as they do not see the new Treasury tax inversion rules preventing the deal from closing. The firm said the deal is not an inversion and tax synergies were not the primary driver for the two companies to merge. Cowen maintained its Outperform rating and $46 price target on Baxalta shares.
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