Valeant offers to buy Botox maker Allergan

Tue Apr 22, 2014 8:00am EDT
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April 22 (Reuters) - Canada's Valeant Pharmaceuticals International Inc said it offered to buy Botox maker Allergan Inc to boost its skin and eye-care portfolio.

Valeant said it had offered to pay $48.30 per share in cash and 0.83 of its common share for each Allergan share.

The company said Bill Ackman's Pershing Square, Allergan's largest shareholder with a 9.7 percent stake, supported the deal. (Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty)