Oct 27 (Reuters) - Valeant Pharmaceuticals International Inc said it is prepared to improve its offer for Allergan Inc to at least $200 per share.
The Botox maker’s shares closed at $184.21 on Friday.
Valeant Chief Executive Michael Pearson said in a letter to Allergan’s board that Allergan’s stock would not be trading at the multiples it is now if it were not for Valeant’s offer.
Pearson told Reuters last week that a possible revised stock-and-cash bid would be worth more than $200 per share, assuming that Valeant’s stock rises, and would include more cash.
Reporting by Sayantani Ghosh in Bangalore; Editing by Sriraj Kalluvila