Reuters: Allergan eyes new takeover bid for Shire

|About: Allergan plc (AGN)|By:, SA News Editor

Allergan (AGN) is preparing to approach Shire (SHPG) about a potential takeover after holding talks in recent months that didn't work out, but AGN is still interested, Reuters reports.

AGN, which has since received a $47B takeover offer from Valeant Pharma (VRX) teamed up with activist investor Bill Ackman, is said to be planning a fresh approach to the Irish drugmaker.

An Allergan-Shire combination would create a company with a market value of nearly $72B and annual sales of more than $11B, not to mention help AGN in its defense against VRX.

This was corrected on 04/29/2014 at 08:00 AM. The original post assigned an incorrect ticker (VRTX) for Valeant Pharma (VRX).