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Allergan likely to lose bid to stop takeover by Valeant, analyst says
Allergan likely to lose bid to stop takeover by Valeant, analyst says

Botox maker Allergan Inc. of Irvine appears increasingly likely to be acquired by a Canadian rival, an analyst said Tuesday. Valeant Pharmaceuticals International Inc. has been working for five months to acquire Allergan and its coveted lineup of beauty and health products. Allergan's board has rejected each of Valeant's offers, including a pending offer of about $53 billion in cash and stock. Alex Arfaei of BMO Capital Markets said he believes it's increasingly likely that Valeant will force a deal through. Valeant and its partner, New York hedge fund Pershing Square Capital Management, are scheduled to ask Allergan shareholders in December to replace a majority of...

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