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ISTA Pharm: Valeant Pharmaceuticals (VRX) confirms its increased

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mlkrborn   Tuesday, 01/17/12 09:38:49 AM
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ISTA Pharm: Valeant Pharmaceuticals (VRX) confirms its increased $7.50 bid for ISTA (ISTA) 7.27 : Valeant expressed its disappointment that the Board of Directors and management of ISTA have not been willing to meaningfully engage with Valeant on a timely basis to obtain the benefits of its proposal. "We do not understand why ISTA would not have already pursued discussions with us and provided due diligence access... Our proposal represents an attractive premium to ISTA's trading performance, and we believe it offers a compelling opportunity for shareholders in light of ISTA's ongoing operational challenges." Valeant calls on the Board of Directors of ISTA to engage in discussion with Valeant and to provide it with access to selected due diligence in order to enter into a transaction no later than January 31, 2012... See 1:26 comment for additional details.

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