Valeant to launch exchange offer for Allergan this week

June 17 Tue Jun 17, 2014 9:12am EDT

June 17 (Reuters) - Valeant Pharmaceuticals Inc said on Tuesday it will launch an exchange offer for Allergan Inc this week, allowing it to eventually take the unsolicited bid directly to shareholders.

Allergan has rejected Valeant's $53 billion offer, but its biggest shareholder, Pershing Square Capital Management, intends to mail proxy materials as early as this month to seek a special meeting later this year to change most of Allergan's board, Valeant said in a webcast presentation to investors. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Jeffrey Benkoe)

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.