The Wall Street Journal reported Tuesday afternoon that Allergan (AGN) has approached Salix Pharmaceuticals (SLXP) about a potential takeover. Allergan is attempting to thwart a hostile takeover by Valeant Pharmaceuticals (VRX).
Salix Pharmaceuticals surged to the upside in the afternoon and finished with a gain of 21.63 at $160.80 on the highest volume of the year. The stock soared above a month and a half long range and set a new high for the year.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.