Allergan rejects Valeant Pharma's takeover bid - Reuters
U.S. drugmaker Allergan Inc rejected Valeant Pharmaceuticals International Inc's unsolicited takeover offer, saying it substantially undervalued the company, Reuters reported. The Canadian drugmaker said on April 22 that it and activist investor Bill Ackman had made a US$47 billion bid to buy Allergan, maker of the popular anti-wrinkle treatment Botox. Allergan has since been seeking other buyers, according to sources familiar with the matter. Valeant has offered to pay US$48.30 per share in cash and 0.83 Valeant shares for each Allergan share.
12 May 2014•2 mins read
