Volume 92 Issue 17 | p. 8 | News of The Week
Issue Date: April 28, 2014

Valeant Makes Hostile Bid For Allergan

Activist investor Ackman pushes $47 billion takeover deal
Department: Business
Keywords: specialty pharmaceuticals, hostile takeovers, activist investors

Valeant Pharmaceuticals has made a $47 billion cash-and-stock offer to buy specialty pharmaceuticals maker Allergan in a deal backed by activist investor William A. Ackman.

Adding Allergan’s $6.3 billion in 2013 sales to Valeant would create a firm with revenues of $11.7 billion. Valeant would save some $2.7 billion by combining headquarters, eliminating duplicative operations, and cutting research spending.

Allergan, the maker of Botox wrinkle reducer, says it is examining Valeant’s . . .

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