BUZZ-Allergan Inc: Actavis plans to make new approach for co

Tue Oct 7, 2014 3:45pm EDT
 
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** Drugmaker's shares up 2.2 pct at $187.19

** Stock hits record high of $189.09 earlier in the session

** Actavis Plc plans to make a fresh approach for Allergan over a potential merger, as the Botox maker warms up to the possibility of a sale, Reuters exclusively reported, citing people familiar with the matter

** Actavis has held informal conversations with Allergan in recent months about a possible merger

** Allergan has repeatedly rebuked takeover approaches from Canadian drugmaker Valeant Pharmaceuticals International Inc

** Up to Monday's close, Allergan shares had risen about 29 percent since Valeant's first offer on April 22