, Columnist
Don't Believe the Valeant M&A Hype
Ackman and the board seem reluctant to break up or sell cheaply.
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Another day, another piece of (superficially) good Valeant news, another stock-price boost that will likely make a fruit fly look long-lived.
Valeant's stock popped 5.5 percent on Friday on the news, originally reported by The Wall Street Journal, that Japanese pharma firm Takeda and private equity giant TPG reportedly approached the floundering company about a possible takeover a month or two back. The offer was rejected, and talks are not ongoing. The discussion apparently never progressed to a firm offer price.