Valeant ups offer to acquire Allergan

Valeant Pharmaceuticals has for the second time in a week revised its proposal to acquire Allergan, offering to exchange each Allergan share for $72 and maintain 0.83 shares of Valeant common stock, according to a company press release. The offer is an increase per share from $58.30 made earlier this week and is contingent on prompt good faith negotiations.“Shareholders will continue to be able to elect cash and/or Valeant stock, subject to proration. Pershing Square, Allergan's largest shareholder with a 9.7% stake, has agreed to elect only stock consideration in (Read more...)