Valeant Ups Takeover Bid for Botox Maker Allergan to $49.4 Billion

Valeant Pharmaceuticals is upping its bid for Botox maker Allergan. Valeant added more cash to its offer, increasing the cash-and-stock bid by $10 to $58.30.
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Valeant Pharmaceuticals is upping its bid for Botox maker Allergan. Valeant added more cash to its offer, increasing the cash-and-stock bid by $10 to $58.30. The new offer now stands at $166.16 a share, or $49.4 billion, based on Tuesday's closing prices. That's up from the $152.89 a share, or $45.5 billion offer Valeant made last month. Valeant also said it would commit to investing as much as $400 million in developing Allergan's trial DARPin vision treatment. Allergan rejected Valeant's initial bid, saying it undervalued the company. Now, Allergan says it would "carefully review and consider" the revised offer.