Valeant Pharmaceuticals International Inc (VRX.TO) said on Monday it might be willing to increase its offer for Cephalon Inc (CEPH.O) if the U.S. drugmaker opens its books to allow due diligence. Valeant announced an unsolicited $5.7 billion bid for Cephalon on March 29 that valued the company at $73 a share. Cephalon's shares have since traded above that level, suggesting investors expect a higher offer. The shares were at $76.75 early on Monday. It was not the first time that Valeant has said it might sweeten the bid, underscoring its urgency to resolve issues quickly amid other mergers in the sector.
Source
