Corporate
Oct. 29, 2014
Valeant increases bid for Allergan on eve of insider trading hearing
Allergan has sued Valeant in Santa Ana federal court for violating insider-trading laws after partnering with hedge fund Pershing Square Capital Management LP to move ahead with a hostile bid, which now stands at $200 per share.
Daily Journal Staff Writer
Valeant Pharmaceuticals International Inc. signaled Monday it was prepared to sweeten its offer to buy Allergan Inc. to $200 per share in a letter to the Irvine-based drugmaker's board of directors, urging them to acquiesce to a deal after more than six months of hostilities between the two companies.
The letter, sent by Valeant's chairman and CEO J. Michael Pearson, did not specify wheth...
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