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Fly News Breaks for April 23, 2015
RAD, WBA, OCR
Apr 23, 2015 | 07:36 EDT
UBS noted reports said Omnicare (OCR) may be up for sale and the firm estimates a buyer would have to pay $95 per shares. The firm believes Walgreens (WBA) or Rite Aid (RAD) could be interested buyers, but they are unlikely to pay up due to fewer synergies that would be available. UBS noted the company increased compensation to management in the event of a change in control, providing further evidence the company may be sold. UBS reiterated its buy rating and $85 price target on Omnicare shares.
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