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Allergan Rejects Hostile $53B Bid From Valeant, Ackman

By Karlee Weinmann (June 23, 2014, 10:49 AM EDT) -- Allergan Inc. said Monday its board unanimously spurned a "grossly inadequate" $53 billion exchange offer from Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman, inflaming tensions as the eager suitors bear down on their hostile takeover campaign....

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