Industry news
Allergan rejects bid from Valeant Pharmaceuticals
Allergan, Inc. has announced that its Board of Directors has unanimously rejected the unsolicited proposal announced by Valeant Pharmaceuticals International, Inc. on April 22, 2014. After a comprehensive review, conducted in consultation with its financial and legal advisors, the Allergan Board concluded that the Proposal substantially undervalues Allergan, creates significant risks and uncertainties for the stockholders of Allergan, and is not in the best interests of the Company and its stockholders.
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