Arab Today, arab today allergan approaches salix to fight valeant bid
Last Updated : GMT 17:54:06
Arab Today, arab today
Arab Today, arab today

Allergan approaches Salix to fight Valeant bid

Arab Today, arab today

Arab Today, arab today Allergan approaches Salix to fight Valeant bid

A doctor measures out a Botox injection
New York - AFP

Botox-maker Allergan has approached Salix Pharmaceuticals about a potential takeover that could scuttle Valeant Pharmaceuticals' hostile bid for Allergan, the Wall Street Journal reported Tuesday.
Allergan contacted Salix and at least one other pharmaceutical company about a potential deal, the Journal said, citing unnamed sources.
A large Allergan acquisition of another company would add to the price of Valeant's proposed $53.5 billion takeover of the Botox-maker, which Allergan has vigorously fought.
Valeant first bid for Allergan in April, offering $45.6 billion before raising its bid two times.
Allergan has rejected all three bids, while criticizing Valeant's business model and saying a deal would harm Allergan's business. Valeant last week extended its latest offer until the end of 2014.
Valeant's campaign has been supported by activist hedge-fund investor William Ackman, who owns a big stake in Allergan.
A Salix takeover "makes sense" for Allergan because of Salix's "dominance in the gastroenterology space," said a note by Sterne Agee.
However, Salix's profile could also make it a strong candidate for takeover by another pharma company, Sterne Agee added.
Salix notched revenues of $934 million in 2013 and had a market capitalization of about $9 billion prior to Tuesday's reports of the potential Allergan bid.
Salix in July announced that it would merge with a unit of Italian company Cosmo Pharmaceuticals to become an Irish-domiciled subsidiary of Cosmo. It is not clear how an Allergan-Salix deal would affect the Cosmo transaction, the Journal said.
Allergan previously approached Johnson & Johnson and Sanofi about potential deals, but was rebuffed by the larger companies, according to previous US media reports.
Shares of Salix jumped 15.5 percent to $160.80, while Allergan rose 4.0 percent to $161.82. Valeant shares advanced 3.6 percent to $113.72.
Allergan and Salix declined comment.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today allergan approaches salix to fight valeant bid Arab Today, arab today allergan approaches salix to fight valeant bid

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 15:16 2017 Sunday ,19 February

Apple to start India operations with iPhone SE

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday