Valeant :prepared To Improve For Allergan And Provide Value Of At Least $200/shr

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX, VRX.TO), in a letter to the Board of Directors of Allergan, Inc. (AGN), said Monday that it is prepared to improve its offer and provide value to Allergan shareholders of at least $200 a share.

Valeant said it is confident that an increase in its stock price, and in consideration, will provide that value. No other potential acquirer of Allergan has the operational and tax synergies that it has, and no other potential acquirer of Allergan can provide the value that it can.

"Management has shown its true colors through "horse-choking" bylaws, baseless attacks and frivolous litigation. It is past time for the board to take control of this process, do what is right for the Allergan shareholders and come to the table. December 18 is not far away," Valeant said in the letter.