Valeant says improved bid for Allergan won't be all-cash - Reuters
Canada's Valeant Pharmaceuticals International said it will not make an all-cash bid for drugmaker Allergan Inc as many had expected last week when the company said it would improve its cash and stock offer for the Botox maker, Reuters reported. Michael Pearson, CEO of the Canadian drugmaker, said Allergan shareholders favored Valeant's bid and preferred Valeant equity over more cash. Valeant on April 22 offered US$48.30 in cash and 0.83 of one Valeant share for each Allergan share in a US$47 billion bid with the support of activist investor William Ackman, head of Pershing Square Capital Management.
20 May 2014•2 mins read
