Salix Pharmaceuticals jumped 6% to a new high above 169 on the stock market today on news that fellow specialty drugmaker Allergan is probably about to buy it. However, one of Allergan’s largest shareholders threatened to sue if the two companies make such a deal. Late Monday, anonymously sourced news reports said that Salix Pharmaceuticals (SLXP) and Allergan (AGN) could announce the buyout late this week or next. Rumors that Allergan is
Salix Pharmaceuticals jumped 6% to a new high above 169 on the stock market today on news that fellow specialty drugmaker Allergan is probably about to buy it. However, one of Allergan’s largest shareholders threatened to sue if the two companies make such a deal. Late Monday, anonymously sourced news reports said that Salix Pharmaceuticals (SLXP) and Allergan (AGN) could announce the buyout late this week or next. Rumors that Allergan is
Specialty-drug giant Valeant Pharmaceuticals International (VRX) agreed to drop its litigation against hostile-takeover target Allergan in exchange for Allergan allowing the originally scheduled Dec. 18 special shareholder meeting that could speed the potential merger. But while the meeting go-ahead makes a merger likelier, BMO Capital Markets analyst David Maris reported after a visit with Allergan (AGN) executives that they still sounded