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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