There has been no shortage of drama relating to Valeant Pharmaceuticals' (NYSE: VRX ) proposed takeover of Allergan (NYSE: AGN ) . Valeant's proposed takeover is estimated to generate a potential $2.7 billion in cost savings for the combined company, in part by slashing Allergan's spending on R&D and administration (and presumably jobs in those departments).
In a move that bids to protect those jobs by keeping Allergan independent, Allergan's board immediately implemented a poison pill to prevent the takeover. Will the poison pill be enough to stop Valeant, especially given that the company is supported by Bill Ackman, whose firm owns over 9% of Allergan shares?
Speculation has swirled that Allergan might try another option -- an acquisition to boost its size beyond Valeant's ability and willingness to buy. Shire (NASDAQ: SHPG ) is a big potential target. Find out why in the video below.
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