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Allergan CEO David Pyott Hunting Acquisitions to Fend Off Valeant

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.