Daniel Och’s Oz Management has a new top holding Actavis Pharmaceutical (ACT) moved from the 4th spot last quarter to the number one position with Och’s increase in the number of shares held by 21%. Now Och has 31.8 million shares of Actavis worth $709 million.
This large increase in the Actavis stake comes at a propitious time; a month ago, ACT announced it was acquiring Forest Laboratories (FRX) for $28 billion. It is estimated that Forest could add another 40%-50% to Actavis’ $10 billion revenue, and could earn ACT $1 billion in cost synergies. While Actavis is a leading player in generics, FRX will increase its exposure to specialty pharmaceuticals, which command higher prices.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
Oz Management has the largest stake in Actavis, followed by Barry Rosenstein’s Jana Partners, with 2.65 million, Dan Loeb’s Third Point, with 2.5 million and Stephen Mandel’s Lone Pine Capital, with 2.47 million.
