Valeant strikes deal to reduce its portion of Allergan settlement to $96.25M

LAVAL, Que. _ Valeant Pharmaceuticals International, Inc. (TSX:VRX) says it has agreed to pay US$96.25 million to settle lawsuits filed in California in the wake of the unsuccessful attempted hostile takeover in 2014 of Botox maker Allergan Inc.

The company says in a news release the rest of the agreed settlement of US$290 million, about 67 per cent, will be covered by co-defendant Pershing Square Capital Management, L.P.

Pershing Square, an American hedge fund, says in a separate release...

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