Allergan shoots down $46B takeover bid from Valeant

Allergan has rejected a $46 billion takeover bid from Valeant Pharmaceuticals. The unsolicited bid undervalues Allergan, the company says. Additionally, "[w]e question how Valeant could maintain Allergan's sales growth, especially considering the significant cost reductions Valeant is proposing," Allergan Chief Executive David Pyott said.

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