Allergan Prepares Takeover Bid for Shire

Allergan Inc., facing an unsolicited bid from Valeant Pharmaceuticals International Inc., is preparing to approach Shire Plc about a potential takeover, even though the Irish drugmaker rebuffed a previous overture, according to a Reuters article. A bid by Allergan for Shire, which has a market value of $32 billion, would show how determined the U.S. dermatology drugmaker is to stay independent. Read the full story

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