Allergan Nears Formal Rejection of $46 Billion Valeant Offer -FT

By Dow Jones Business News, 
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Allergan Inc. ( AGN ), target of a $46 billion bid from Valeant Pharmaceuticals International Inc. (VEX), could formally reject the offer for the maker of Botox as soon as Monday, the Financial Times reported Friday on its website, citing people familiar with the matter.

Allergan is expected to cite concerns over possible reductions in research and development as well as the stock component of the offer as reasons for the rejection, the people said.

Allergan declined comment to the FT.

Web site: www.ft.com

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  (END) Dow Jones Newswires
  05-09-141215ET
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This article appears in: News Headlines

Referenced Stocks: AGN , VRX

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