Allergan Inc. has made a $3.2 billion bid for Santa Barbara-based Inamed Corp. in an attempt to break up Medicis Pharmaceutical Co.’s proposed takeover of Inamed.
Allergan said on Tuesday it would offer $84 a share in cash or stock for each Inamed share, a premium of nearly 13 percent based on the shares’ value at the end of trading on Monday. The company said its offer represents a 16 percent premium to the Medicis bid. Inamed shareholders would be eligible to receive $84 in cash or 0.8498 shares of Allergan stock per Inamed share.
