BUZZ-Allergan Inc: In talks for potential merger

Thu Nov 6, 2014 10:20am EST
 
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** Botox maker's shares up 1.8 pct at $199.89

** Stock rises as much as 2.4 pct to record high of $200.95

** Company says it is in talks with another party for potential merger (1.usa.gov/1tDOqcj)

** Source familiar with situation identified party as Actavis Inc, just days after Allergan disclosed that it had been approached

** Allergan is fighting $54 billion hostile takeover by Valeant Pharmaceuticals International and Pershing Square Capital Management

** Actavis's shares up 1.8 pct at $252.28, while Valeant's U.S.-listed shares down 1.1 pct at $130.49

** Up to Wednesday's close, Allergan's stock had risen 77 pct this year