Valeant to take bid to shareholders after Allergan rejection

Tue Jun 10, 2014 11:08am EDT
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June 10 (Reuters) - Allergan Inc's "inaccurate and misleading statements" and unsupported arguments about Valeant Pharmaceuticals Inc leaves Valeant no choice but to take its $53 billion takeover offer directly to Allergan shareholders, Valeant said on Tuesday.

Allergan's board has been unwilling to meet with Valeant, which it must do to properly gauge the value of Valeant's offer, spokeswoman Laurie Little said in a statement. Allergan rejected Valeant's most recent offer earlier in the day. (Reporting by Rod Nickel in Winnipeg, Manitoba)