Allergan Reiterates Opposition to Valeant Pharmaceuticals’ Acquisition ProposalBy
The specialty pharmaceutical company Allergan, Inc. issued a statement to reiterate its opposition to Valeant Pharmaceuticals International, Inc.’s re-revised unsolicited proposal to acquire Allergan, dated
In a statement, Allergan said that it had concerns with Valeant’s “unsustainable business model, which relies on serial acquisitions and cost reductions, as opposed to top-line revenue growth and operational excellence,” adding that a number of different third parties have also publicly expressed similar views.
The latest proposal by Valeant, dated May 30, 2014, was a combined cash and stock deal of approximately $52.7 billion involved acquiring all of the outstanding shares of
As previously announced on