Allergan, the Botox maker fending off a hostile bid by Valeant Pharmaceuticals and Pershing Square Capital Management, had had talks to acquire Salix Pharmaceuticals, another drug maker, according to people briefed on the matter.
If successful, Allergans acquisition of Salix would probably derail Valeant and Pershing Squares $53 billion takeover attempt. It would also mean the end of Salixs own deal to acquire Cosmo Technologies, the Irish unit of Cosmo Pharmaceuticals of Italy, in a tax inversion deal announced this summer.
But talks between Allergan and Salix continue and could still fall apart, these people said. One person briefed on the matter said the companies still had not come to terms.
And a deal would be a financial reach for Allergan. Salix has a market value of more than $10 billion, and its stock was up 16 percent in after-hours trading following a report in The Wall Street Journal about talks between the companies.
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If successful, Allergans acquisition of Salix would probably derail Valeant and Pershing Squares $53 billion takeover attempt. It would also mean the end of Salixs own deal to acquire Cosmo Technologies, the Irish unit of Cosmo Pharmaceuticals of Italy, in a tax inversion deal announced this summer.
But talks between Allergan and Salix continue and could still fall apart, these people said. One person briefed on the matter said the companies still had not come to terms.
And a deal would be a financial reach for Allergan. Salix has a market value of more than $10 billion, and its stock was up 16 percent in after-hours trading following a report in The Wall Street Journal about talks between the companies.
SHARE
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0 COMMENTS
Show Full Article
Most Popular on NYTimes.com
Airstrikes by U.S. and Allies Hit ISIS Targets in Syria
Rockefellers, Heirs to an Oil Fortune, Will Divest Charity of Fossil Fuels
OP-ED COLUMNIST
Those Lazy Jobless
PAYING TILL IT HURTS
After Surgery, Surprise $117,000 Medical Bill From Doctor He Didnt Know
U.S. Ramping Up Major Renewal in Nuclear Arms
OP-ED CONTRIBUTOR
Why Poor Students Struggle
White House Intruders Past Raises Concern
Weeks of U.S. Strikes Fail to Dislodge ISIS in Iraq
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