Allergan, which has received a well-storied hostile takeover bid from Valeant Pharmaceutical, courtesy of hedge fund manager Bill Ackman is making acquisitions to show it can perform well solo. Its next move is to acquire Salix Pharmaceuticals to ward off a $53 billion takeover bid from Valeant. However, people close to the matter say that negotiation talks are likely to break down between Salix and Allergan. The merger could be an act of desperation, since Salix is valued at $10 billion and was up 16% on rumors of a takeover.
In addition, Allergan could be the target of another bid from Actavis, but since it has substantial debt, will be unlikely to take over the Botox maker. Allergan also has a shareholder meeting on December 18th, when the potential mergers can be voted on. Allergan has staunchly opposed mergers and stated its wish to remain independent.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
