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Valeant Pharmaceuticals International Inc commences exchange offer for Allergan Inc


Wednesday, 18 Jun 2014 09:29am EDT 

Valeant Pharmaceuticals International Inc:Commences exchange offer for common stock of Allergan, Inc. , taking its May 30 proposal directly to Allergan stockholders.Allergan stockholders would be able to elect to exchange each of their Allergan shares for $72 in cash and 0.83 Valeant common shares, or an amount of cash, or number of Valeant common shares, in each case subject to proration.Offer is scheduled to expire on Aug. 15 unless the offer is extended.Valeant expects to complete second-step merger promptly following the consummation of exchange offer in order to acquire remaining Allergan shares.