Market Overview

UPDATE: Allergan Confirms Receipt of Unsolicited Proposal from Valeant, Will Review Offer

Related AGN
Dow Suffers 300 Point Drop; S&P 500 And NASDAQ Also Tumble
Top 4 NYSE Stocks In The Drug Manufacturers-Other Industry With The Highest EPS
Allergan to Slash 13% of its Global Workforce (Fox Business)
Related VRX
Dow Suffers 300 Point Drop; S&P 500 And NASDAQ Also Tumble
UPDATE: Valeant Pharmaceuticals Posts Higher Q2 Profit
Allergan Rebuffs Valeant's Tender Offer (Fox Business)

Allergan, Inc. (NYSE: AGN) (“Allergan” or the “Company”) today confirmed that it has received an unsolicited proposal from Valeant Pharmaceuticals International, Inc. (“Valeant”) to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares and $48.30 in cash per share of common stock of the Company (the “Proposal”).

The Allergan Board of Directors, in consultation with its financial and legal advisors, will carefully review and consider the Proposal and pursue the course of action that it believes is in the best interests of the Company's stockholders. The Company's stockholders do not need to take any action at this time.

Goldman, Sachs & Co. and BofA Merrill Lynch are serving as financial advisors to the Company and Latham & Watkins is serving as legal counsel to the Company.

Posted-In: News M&A Press Releases

 

Most Popular

Related Articles (AGN + VRX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters