Valeant Could Hike Allergan Offer To $200-Plus Per Share
Law360, New York (October 27, 2014, 10:04 AM EDT) -- Valeant Pharmaceuticals International Inc. said Monday that it could raise its takeover offer for Allergan Inc. to $200 per share or more, and again urged the Botox maker to sidle up to the bargaining table for friendly deal talks.
The move answers speculation that Valeant, backed in its pursuit by activist investor Bill Ackman, again could sweeten its proposed terms to lure California-based Allergan into a deal after a highly contentious six-month pursuit. Still, Valeant stopped short of actually boosting its offer.
Instead, the Canadian company said in a letter to Allergan's board that it was "prepared to improve its offer...
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