The heat in the Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) unsolicited takeover offer for Allergan, Inc. (NYSE:AGN) is getting hotter, with Allergan advising their investors to reject Valeant’s “grossly inadequate” offer. Valeant fired back this morning in a press release refuting Allergan’s “misleading assertions.” Allergan, Inc. (NYSE:AGN)’s board said the Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) offer should be rejected because it undervalues the company and creates significant risks and uncertainties for Allergan shareholders. Allergan had previously attacked Valeant’s $52.7 billion offer largely based on the price of Valeant shares, which it said was inflated, as reported in ValueWalk. Allergan…
Valeant Fires Back After Allergan Calls Offer "Grossly Inadequate"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.