Valeant raises bid for Allergan; GlaxoSmithKline under investigation; Google's new driverless car goes for a spin
Valeant Pharmaceuticals (VRX) increased its bid for Botox-maker Allergan (AGN). The Canadian drug maker raised its bid to Allergan by $10, or about 21%, to $58.30. The new offer values the U.S. firm at about $50 billion. Allergan built its case with investors yesterday for rejecting Valeant's offer. Meanwhile, Valeant will hold a webcast this morning to explain its bid. Separately, Valeant sold the rights to several of its skincare products to Swiss food group Nestle for $1.4 billion in cash.
GlaxoSmithKline (GSK) said that the U.K. Serious Fraud Office is investigating its “commercial practices” for possible criminal violations. This comes after allegations in China that its employees bribed doctors, hospitals and government officials to boost sales in the country.
On Tuesday, Google (GOOGL) revealed its new driverless car that doesn't have brake or gas pedals, or a steering wheel. Google has been working on driverless vehicles for years, using conventional cars and each needing two people to take control should something go wrong. The new prototype is completely automated, except for a go/stop button and an emergency button, and was designed from scratch by Google. One hundred prototypes of the car are expected to be built over the next two years.
We want to know what you think about Google's driverless car. Would you ride in a car with no steering wheel and no pedals? Vote in our poll or leave us a comment below or on Twitter.
