As Allergan, Inc. (NYSE:AGN) squirms like a mouse trapped in a corner by a cat, trying desperately to stave off an acquisition by slash and burn roll-up firm Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX), a letter from a decade long institutional investor points to apparent inconsistencies in management tactics.
Allergan claims Valeant’s acquisition offers undervalue the company
Allergan, Inc. (NYSE:AGN)’s board is currently claiming that acquisition offer by Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) (and potentially a second bidder, Actavis) significantly undervalue the company. Allergan released a statement today that said “Valeant’s offer does not appropriately reflect the underlying value of Allergan’s assets, operations and prospects, including... its projected growth opportunities.”
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