Valeant Pursues Hostile Bid for Allergan

AP reported that Valeant Pharmaceuticals aims to take its bid for Allergan to the Botox maker's shareholders after Allegan's board unanimously rejected its latest offer of about $53 billion.

Valeant said it looked forward to giving shareholders the opportunity "to speak for themselves" after Allergan chairman and CEO David Pyott said that the offer wasn't worth discussing in a letter to his Valeant counterpart, Michael Pearson. Read the full story

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