Report: Allergan Approached By Actavis

Allergan Inc. AGN confirmed that it had been previously approached by a company it didn't name with a buyout offer, according to a tweet from a reporter for The Wall Street Journal. An unnamed source separately suggested the approach was from Actavis plc ACT according to the tweet, which didn't describe a more specific time frame for the events.

Allergan confirms prior M&A approach from mystery co (source says Actavis). Sounds like door still open http://t.co/44qSuGC3cq $AGN

— Liz Hoffman (@lizrhoffman) November 3, 2014

Reuters carried a similar report Monday.

Allergan wants to beat down a $55 billion hostile bid made in April by Valeant Pharmaceuticals Intl Inc. VRX and activist investor Bill Ackman.

Bloomberg reported recently that Actavis may offer a bid for Allergan some time this month, prior to Allergan's annual shareholders meeting set for December 18, when a vote on the Valeant offer is expected. Both Allergan and Actavis gained about 1.5 percent in recent trading.