Allergan: "can Create More Value Than Valeant's Offer"

(RTTNews) - Allergan Inc. (AGN) announced the company is very clear in its belief that it can create more value than Valeant's offer. The company said it will continue to act in stockholders' best interests by taking all appropriate steps, even in the face of litigation threats made by Pershing Square on September 23, 2014.

Allergan noted that, over the next five year period, it expects to generate compounded annual adjusted earnings per share growth of more than 20 percent, which translates into $10.00 per share of adjusted EPS in 2016.

Allergan issued the statement in response to recent Valeant correspondence. On Wednesday, Michael Pearson, CEO of Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) sent a letter to Allergan CEO David Pyott and Lead Independent Director Michael Gallagher, which expressed Valeant's continued willingness to negotiate a mutually agreeable transaction with Allergan.