Allergan CEO David Pyott Hunting Acquisitions to Fend Off Valeant

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Allergan CEO David Pyott Hunting Acquisitions to Fend Off Valeant

Allergan CEO David Pyott Hunting Acquisitions to Fend Off Valeant
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Allergan CEO David Pyott Hunting Acquisitions to Fend Off Valeant

by TheStreet 0:27 mins

Allergan Chief Executive Officer David Pyott said in an interview with the Wall Street Journal he's looking at potential sizable acquisitions as he seeks to fend off a $53 billion hostile takeover offer from Valeant Pharmaceuticals and activist investor Bill Ackman. He said Allergan is considering both U.S. companies and companies located overseas, which could lead to a tax-cutting deal. Pyott said in the interview that Allergan's earnings results out later this month would reinforce his stance that the future value of the Botox-maker will exceed Valeant's offer price.

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