Allergan Board Unanimously Rejects Valeant’s Unsolicited Takeover Bid

IRVINE, Calif.—After consulting with its independent financial and legal advisors, the board of Allergan, Inc. (NYSE: AGN) unanimously determined that Valeant Pharmaceuticals International, Inc.'s (NYSE/TSX: VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan "substantially undervalues the company, creates significant risks and uncertainties for Allergan stockholders, and is not in the best interests of the company and its stockholders," according to a statement released by Allergan on June 23, 2014. "The board strongly recommends that Allergan stockholders not tender any Allergan shares to Valeant."    See more