Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) and Bill Ackman’s Pershing Square are said to be planning to boost their offer to acquire Botox maker Allergan, Inc. (NYSE:AGN) by $15 a share, according to people familiar with the developments.
The enhanced offer marks Valeant and Pershing Square’s third increase to their original bid.
Valeant – Allergan merger could be the largest deal of the year
The latest bid from Valeant Pharmaceuticals and Pershing is intended to keep the Botox maker from striking a rival deal. The duo’s bid could value Allergan at over $56 billion, increasing the earlier offer by $4.5 billion. If the Allergan deal goes through, it would be the largest deal of the year, rivaling AbbVie Inc (NYSE:ABBV)’s pending $54 billion Setup a free account to get access to this article (no credit card required).Login required to continue reading.
