Ackman's Pershing Square Could Raise Allergan Takeover Bid, WSJ Reports

Shares of Allergan Inc. (NYSE: AGN) and Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) are on the move Tuesday after hours following a report from the Wall Street Journal:

Valeant, Pershing Square plan to boost Allergan bid by $15 a share to about $191/share http://t.co/QFRygASm5j @lizrhoffman @DaveCBenoit

— WSJ Deals (@WSJdeals) October 7, 2014

According to the report, Bill Ackman’s Pershing Square and Valeant plans to boost the offer for Allergan by $15 per share; representing a 2.5 percent premium to where the stock closed Tuesday. The last-reported offer from the combo of Ackman and Valeant was for $176 per share.

Shares of Allergan are up 2.6 percent after hours Tuesday, adding on to a 1.7 percent gain for the intraday session. Valeant shares were last indicated at $129.50, up 3.4 percent from the close.