Bloomberg: Allergan coming up empty in quest for white knight


Sanofi (SNY), Johnson & Johnson (JNJ) and other major pharmaceutical companies have rebuffed Allergan's (AGN) inquiries as to whether they would be interested in buying the botox maker, Bloomberg reports.

Sanofi isn't interested, while J&J is concerned about the problems of combining the two biggest makers of breast implants in the U.S. Allergan has also approached GlaxoSmithKline (GSK) and Novartis (NVS).

Allergan contacted the possible suitors as it's not happy with an acquisition offer of $45.7B from Valent (VRX) that is being supported by Bill Ackman's Pershing Square.

Some of the firms that Allergan has approached would possibly buy parts of the company, but not the whole business.

This was corrected on 05/11/2014 at 01:19 PM.
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Comments (3)
  • retired+guy
    , contributor
    Comments (48) | Send Message
     
    Allergan's ticker is AGN.

     

    ALGN is the ticker for Align technology.

     

    Bloomberg has is backwards
    11 May 2014, 10:11 AM Reply Like
  • robert1941
    , contributor
    Comments (6) | Send Message
     
    AGN should sell to vrx it's a good deal!
    11 May 2014, 10:12 AM Reply Like
  • Snoopy1
    , contributor
    Comments (1125) | Send Message
     
    As a VRX shareholder, I agree.

     

    VRX is worth $150+ if this deal goes through
    11 May 2014, 12:22 PM Reply Like
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