Valeant won't pay whatever it takes for Allergan -CEO

Tue Apr 22, 2014 2:24pm EDT
 
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April 22 (Reuters) - Valeant Pharmaceuticals Inc won't pay whatever it takes to acquire rival Allergan Inc , and it will not turn its bid into an all-cash deal, Valeant Chief Executive Michael Pearson said on Tuesday in New York.

Valeant and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan as it seeks to become one of the world's five biggest drug companies. (Reporting by Bill Berkrot in New York; Writing by Rod Nickel in Winnipeg, Manitoba; Editing by Meredith Mazzilli)