Bloomberg: Allergan coming up empty in quest for white knight

|By:, SA News Editor

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. The original item misstated the ticker for Allergan (AGN) as ALGN.