FORTUNE-- Valeant Pharmaceuticals upped its proposal for Allergan to practically $49.4 billion, consisting of increasing the cash portion, in an effort to succeed authorization from investors and the board, the business revealed Wednesday.
"Over the past a number of weeks, we have met and paid attention very carefully to the perspectives of a number of Allergan investors," CEO J. Michael Pearson, said in a letter to Allergan. "Our changed deal is based upon certain responses we obtained in our discussions."
Valeant improved its cash offer by 21 % additional per share to $58.30, and stood by it's stock portion of 0.83 of a Valeant share. That introduces the overall deal to over $166 a share, plus the promise of as long as $25 additional each share if Allergan's speculative eye drug fulfills sales targets.
The boosted quote can be found in the wake of Valeant's sale of civil liberties to some of its skincare products to Nestle for $1.4 billion in cash. Nestle, the maker Lean Food microwave meals and Butterfinger sweet bars, will take over Valeant's variety of skin filler and contaminant products, including Restylane, Perlane and Emervel. Valeant claimed the sale "dovetails" with its purchase of Allergan, and it can aid avoid antitrust worries as it looks to take control the mold of well-known wrinkle-filler Botox.
ADDITIONAL: Nestle acquires Valeant skin care rights for $1.4 billion
Valeant partnered with Expense Ackman's Pershing Square Funding, which is Allergan's biggest botox in ri investor, in its quote to take control the Irvine, Calif.-based medication maker. Allergan rejected the initial offer of almost $46 billion since the board claimed it undervalued the manufacturer.
The medicine mold went on to outline a series of issues concerning Valeant's deal model in an investor discussion the manufacturer filed Tuesday. The release criticized the Canadian medication producer's management techniques and handling of its two largest purchases, Bausch & & Lomb and Medicis, saying the business have actually underperformed considering that coming under Valeant's control.
In its boosted bid letter, Pearson responded that Allergan's assessment had a "basic misconception" of the business's company model and efficiency. Valeant established a discussion for financiers on Wednesday to react directly to Allergan's objections, which it claimed "consisted of various mistakes and misstatements of facts."