- According to the WSJ, Allergan (AGN +3.8%) has approached Salix Pharmaceuticals (SLXP +14%) and at least one other company about a potential buyout in order to thwart Valeant Pharmaceuticals' (VRX +3.7%) pursuit of Allergan. The status of negotiations is unknown, but a deal could be announced as early as next month.
- Salix has a market cap of almost $10B. It has generated ~$1.3B in sales over the past 12 months.
- Salix itself is involved in a tax inversion deal with a unit of Italian firm Cosmo Pharmaceuticals SpA.
- Allergan is highly motivated to move quickly. Sources say that Valeant is close to securing the support of 25% of AGN shareholders required to call a special meeting.
From other sites
at MarketRealist.com (Sat, 1:05AM)
at MarketWatch.com (Mar 10, 2015)
at Nasdaq.com (Feb 24, 2015)
at CNBC.com (Feb 18, 2015)
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