US/Canada: Botox maker receives sweetened takeover bid

Valeant Pharmaceuticals has reportedly upped its unsolicited offer to acquire the maker of Botox.

Reports say Valeant increased its bid to $49.4 billion to acquire Canada-based Allergan in hopes of swaying approval from the firm and its shareholders. The original acquisition offer was first introduced last month.

The deal is reportedly part of Valeant’s efforts to become one of the world’s five largest pharmaceutical firms by 2017.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.