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Allergan Inc. (AGN) Attacks Valeant Pharmaceuticals International (VRX)'s Business Strategy


5/28/2014 7:14:58 AM

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Allergan Inc. AGN -1.14% attacked the business strategy of would-be buyer Valeant Pharmaceuticals International Inc., VRX.T -1.85% citing the findings of consultants and forensic accountants. The latest salvo in the companies' battle came a day before Valeant, backed by activist investor William Ackman's Pershing Square Capital Management LP, planned to disclose an improved bid for the Botox maker. Allergan this month rejected Valeant's $46 billion cash-and-stock offer, in part criticizing Valeant's acquisition-reliant business strategy.

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