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US: Actavis revises strategy to acquire Botox maker

 |  October 8, 2014

As Allergan continues to fight a hostile takeover by Canadian rival Valeant, reports say Actavis is now seeking a renewed acquisition of the maker of Botox.

Reports emerged last month that Allergan had denied Actavis’s bid for the company, currently valued at about $55 billion. But Actavis is now reporting a renewed effort to take over the company, unnamed sources said Tuesday. The two pharmaceutical firms have held informal merger discussions in recent months, and Allergan is reportedly considering accepting an offer from Actavis if an offer is made at more than $200 per share.

One source said Actavis would reach out as soon as this week to Allergan’s management to emphasize its interest in a takeover.

The reports come as Valeant is said to have revamped its offer for the Botox maker, offering about $190 per share. But Valeant could come out with an even higher offer later this month, reports say.

Full content: Sun-Sentinel

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