Valeant, which said on Tuesday it would launch the offer this week,
said Allergan shareholders can choose to trade each share for $72 in
cash and 0.83 Valeant shares.
Allergan said its board would review the exchange offer from Valeant.
It previously rejected on June 10 Valeant's bid, which contained the
same major terms.
Valeant's offer will expire on Aug. 15, unless extended.
Allergan shares rose 1.1 percent around midday in New York to
$162.34, while Valeant was down slightly in New York and up modestly
(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Jeffrey
Benkoe and Andrew Hay)
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