- Valeant (VRX) and Bill Ackman's Pershing Square Capital plan to up their hostile cash/stock bid for Allergan (NYSE:AGN) by $15/share, the WSJ reports. Based on Valeant's Tuesday close, that puts the new offer around $191/share.
- Valeant/Pershing are still reportedly "ironing out questions of timing and the mix of cash and stock for the additional $15-per-share rise."
- AGN +2.6% AH to $191.00.
- Earlier: Allergan asks judge to keep Pershing's stake out of shareholder vote
- Update (6:15PM): Valeant is up 3.4% AH.