Valeant injects cash into bid for Botox maker Allergan - Reuters
Canadian drugmaker Valeant Pharmaceuticals International Inc raised the cash component of its unsolicited offer for Botox-maker Allergan Inc, but the increased bid fell short of expectations and the stock of both companies fell, Reuters reported. Valeant's sweetened offer on Wednesday, valuing the U.S. firm at US$49.44 billion, also included a contingent value right that could be worth an additional US$7.6 billion. Its previous offer with activist investor Bill Ackman was worth US$47 billion and was spurned by Allergan, which said the Canadian company had overstated possible savings.
28 May 2014•3 mins read
