The Traderszone Network

Published in TZ Latest News 28 May, 2014 by The TZ Newswire Staff

Valeant injects cash into bid for Botox maker Allergan

Valeant’s sweetened offer values Allergan at about $49.9 billion, based on 303.5 million shares outstanding. Valeant’s New York-listed shares dropped 1.7 percent in midafternoon to $127.61, while Allergan stock lost 4.5 percent to $157.67. Valeant raised its cash component to $58.30 per Allergan share, compared with its previous offer of $48.30. The stock component remains at 0.83 of a Valeant share for each Allergan share.