Health and Healthcare
Valeant Offers Even More for Botox-Maker Allergan
Published:
Last Updated:
Just two days ago Valeant raised its offer by $10 a share, from $48.30 to $58.30. The stock portion has remained constant.
Pershing Square Capital Managment, Allergan’s largest shareholder has agreed to elect only stock in Valeant as payment for its 9.7% stake in the Botox maker. Pershing Square’s CEO, Bill Ackman, has agreed to exchange each of the firm’s Allergan shares for 1.22659 shares of Valeant. Ackman said he called Valeant’s CEO this morning and “offered to give up $600 million of value to other Allergan shareholders and exchange our shares for Valeant stock if Valeant were prepared to increase its offer to other Allergan shareholders.”
Allergan has not responded to Valeant’s offer, but the stock is responding by rising nearly 5% to $166.01 in a 52-week range of $81.33 to $170.05.
ALSO READ: Analysts Stocks to Buy for an Aging America
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.