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Initial Pharmaceutical Merger Nixed

ABJ – Valeant Pharmaceuticals has quickly stated plans to improve its initial $47 billion hostile takeover bid for Allergan.  The official statement comes just one day after the U.S. company rejected the offer.

Valeant maintains a commitment to sealing the deal, but needs to remain fiscally responsible.

Allergan makes the popular anti-wrinkle treatment Botox. Rejection of the bid apparently has less to do about the money being offered as opposed to Allergan’s concern that the Valeant business plan would not be sustainable over the long term.

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