Valeant to raise Allergan bid to at least $200/share

[Anonymous]

Oct 27 (Reuters) - Valeant Pharmaceuticals International Inc said it is prepared to improve its offer for Allergan Inc to at least $200 per share.

The Botox maker's shares closed at $184.21 on Friday.

Valeant Chief Executive Michael Pearson said in a letter to Allergan's board that Allergan's stock would not be trading at the multiples it is now if it were not for Valeant's offer.

Pearson told Reuters last week that a possible revised stock-and-cash bid would be worth more than $200 per share, assuming that Valeant's stock rises, and would include more cash.

 

[Anonymous]

Oct 27 (Reuters) - Valeant Pharmaceuticals International Inc said it is prepared to improve its offer for Allergan Inc to at least $200 per share.

The Botox maker's shares closed at $184.21 on Friday.

Valeant Chief Executive Michael Pearson said in a letter to Allergan's board that Allergan's stock would not be trading at the multiples it is now if it were not for Valeant's offer.

Pearson told Reuters last week that a possible revised stock-and-cash bid would be worth more than $200 per share, assuming that Valeant's stock rises, and would include more cash.

So . . . They can't borrow any more money and the stock isn't worth the paper it's on - what makes this a better deal???

 

[Anonymous]

Oct 27 (Reuters) - Valeant Pharmaceuticals International Inc said it is prepared to improve its offer for Allergan Inc to at least $200 per share.

The Botox maker's shares closed at $184.21 on Friday.

Valeant Chief Executive Michael Pearson said in a letter to Allergan's board that Allergan's stock would not be trading at the multiples it is now if it were not for Valeant's offer.

Pearson told Reuters last week that a possible revised stock-and-cash bid would be worth more than $200 per share, assuming that Valeant's stock rises, and would include more cash.

Basically states the obvious that that if their stock goes up enough, it will be worth that

Its irresponsible to call this an increased offer. Just smoke and mirrors

 

[Anonymous]

IRVINE, Calif.--(BUSINESS WIRE)--

Allergan, Inc. (AGN) (“Allergan” or the “Company”) today issued the following statement in response to Valeant Pharmaceuticals International, Inc.’s (“Valeant”) October 27, 2014 letter to the Allergan Board of Directors.

Delivering value to Allergan’s stockholders remains the Board’s highest priority. If Valeant were to make an increased offer, the Board would carefully consider it and respond in due course. However, to date, as we have noted repeatedly, Valeant’s offers have been grossly inadequate and significantly undervalued Allergan.

We believe Valeant's letter today is simply a tactic to distract investors from Allergan's outstanding third quarter results. Valeant’s letter does not indicate an increased exchange offer price nor does it disclose the mix of consideration -- instead, Valeant goes to great lengths to defend its own stock price and to disparage Allergan, including making what we believe to be disparaging remarks about Allergan and its stock price. The Allergan Board has taken a number of actions over the past six months that have delivered tangible value to our stockholders and will continue to do so in the future. Wall Street analysts have recognized these actions and significantly raised the floor for a standalone Allergan. Allergan believes that any assertion that Allergan’s stock would be trading near its first quarter trading price absent the Valeant offer is not substantiated by fact. We also note that a number of long Allergan stockholders that have decreased their Allergan positions have told Allergan that they did so as they do not want to own Valeant stock.

With the release of our third quarter results, Allergan continues to accelerate the delivery of value to its stockholders.

 

[Anonymous]

That's what Mike Pearson does, he buys companies and the Gomers over here are getting their bags kicked in. If he is shopping new venders for Botox it's truly over! Time will tell but seems the ship has sailed. Best of luck to the remaining folks and others searching for something better...

 

[Anonymous]

Intern alert - VRX is desperate and scrambling right now. Far from over

 

[Anonymous]

Yeah this place is great!