Boston, MA 05/07/2014 (wallstreetpr) – Allergan, Inc. (NYSE:AGN) has approached companies like Johnson & Johnson and Sanofi. In the process, the company would like to observe if either of the companies would genuinely be interested in purchasing the Botox maker, stated people familiar with the matter. Allergan is exploring the options after getting an unsolicited bid of $45.7 billion from Valeant Pharmaceuticals International Inc.
Discussion on the process
Currently, Allergan, Inc. (NYSE:AGN) is conducting early-stage discussions with both the companies. The company seeks an alternative to the offer made by Valeant, said the sources of the company. However, they refused to get identified since the matter is still under cover. Though both the companies are considering the options, yet they have not revealed any clear statement on the subject.
The company did not reveal details
Surprisingly, the business is in a state of fix. It could not make up its mind on how to respond to Valeant’s offer. The California-based Allergan is making several enquiries find out if it could sell to a bigger rival. There is another plan on the cards. The company is planning to buy another company in order to become tougher in acquiring and negotiating with Valeant. Allergan is also looking forward to collaborating with Irvine.
Speculations over the matter
It is true that the company has preferred to keep mum over the subject, but curiosity and speculation have stirred within the industry. As a matter of fact, the news of Allergan’s contact with the two companies has already reached the media. It has aroused interest among all as they are waiting to see how Allergan, Inc. (NYSE:AGN) will react.
In fact, it has been heard that the company might acquire Shire Plc in order to ward-off the Valeant bid. Well, the true story will not be realised unless the company opens its mouth. It is not yet been known that why the company is avoiding the Valeant bid. As soon as the news came out, the shares of Shire dropped.
