Canada: Valeant raises Allergan offer

Valeant Pharmaceuticals International has raised its unsolicited offer for Allergan a second time, to about $53.3 billion (R563bn), increasing the cash portion of the bid in an effort to win the backing of the company and its investors. Holders of Allergan, the maker of the Botox anti-wrinkle treatment, would get $72 a share in cash – up from $58.30 – and 0.83 of a Valeant share under the sweetened offer, Canadian firm Valeant said on Friday. – Bloomberg