Valeant Raises Cash Portion of Allergan Offer As Stock Price Sinks

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) raised the stakes in its hostile bid for Allergan, Inc. (NYSE:AGN), to $58.30 per share, bringing the total bid to $166.16 per share while at the same time executing a separate deal with Nestle to shed some of Valeant’s skin care products and raise cash. After upping cash portion, deal for Allergan still highly dependent on Valeant stock value In upping the ante in the cash portion of a $50.4 billion cash and stock deal, Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) seeks to mitigate claims the stock portion of the Valeant offer is substandard. …