Valeant To Boost Allergan Bid By $15 a Share: Report

Valeant Pharmaceuticals International Inc. and partner Pershing Square Capital Management plan to boost their bid for Allergan Inc. by $15 a share, The Wall Street Journal reported late Tuesday, citing unnamed sources. The move comes after other news reports said Actavis PLC was considering an increased bid for Allergan. The higher bid from Valeant would value Allergan at roughly $191 a share, the Journal said. Allergan was one of the few companies in the black on a bearish Tuesday, up nearly 2% to $186.20.