Allergan rejects Valeant offer

Unsurprisingly, Allergan's (AGN) BOD unanimously rejects Valeant Pharmaceuticals (VRX) unsolicited offer stating that it significantly undervalues the company, creates significant risks and uncertainties for shareholders and is not in the best interests of the company and shareholders.

The company announces that it expects EPS growth to be 20 - 25% in 2015 supported by double digit revenue growth.

Chairman and CEO David Pyott says, "We are confident in our ability to extend our track record, enthusiastic about the opportunities before us, and believe Allergan is well positioned  to deliver compelling value to our stockholders." 

He also believes that Valeant's business model is unsustainable.



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