Valeant Pharmaceuticals Bumps Allergan takeover offer $54-billion

Financial Post report that Valeant Pharmaceuticals International Inc.has upped it unsolicited offer for Botox-maker Allergan Inc. to nearly $54-billion. The company is putting more cash on the table as it tries to win investor support and get Allergan’s board to agree to talks.

Valeant chief executive Michael Pearson said:

Allergan shareholders want this deal to occur but they wanted a higher price. We think the revised offer we gave this morning addresses [investor] concerns.

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