Deals
Allergan Tussle Plumps Up Botox Maker’s Price: Real M&A
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As the contest to win control of Allergan Inc. heats up, so has the valuation.
The Botox maker’s pricetag has doubled in the past year as Valeant Pharmaceuticals International Inc. persists with its hostile bid and Actavis Plc sidles up. The $59 billion target’s profit multiple is already 60 percent higher than the median of past pharmaceutical takeovers that large, according to data compiled by Bloomberg.