Valeant expects up to $15 billion commitments to fund Allergan merger

By Marisa Wong

Madison, Wis., April 21 - Valeant Pharmaceuticals International, Inc. disclosed that Barclays and Royal Bank of Canada intend to provide financing commitments to help fund its planned merger with Allergan, Inc., according to an 8-K filing with the Securities and Exchange Commission.

Valeant is proposing to offer shareholders a combination of cash and stock.

The company said it has not determined the amount of cash and number of shares it will offer but expects the cash component to total around $15 billion.

According to the filing, Barclays and RBC have indicated that they are prepared to deliver commitments covering the cash portion of the transaction.

Valeant is a specialty pharmaceutical company with U.S. headquarters in Bridgewater, N.J., and international headquarters in Laval, Quebec. Allergan is an Irvine, Calif.-based pharmaceutical company and the maker of Botox.

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