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Salix Said in Talks to Sell to Actavis as Allergan Fades

Salix Pharmaceuticals Ltd. is in talks to sell itself to Actavis Plc, said people with knowledge of the matter, after it failed to reach a deal with Botox maker Allergan Inc.

Though no deal is imminent, an agreement between Salix and Actavis has become more likely in the past week, the people said, asking not to be identified discussing private information. Allergan’s effort to acquire Salix stalled in recent days over valuation concerns, two of the people said.