Valeant Pharmaceuticals International Inc (VRX.TO) said on Monday it might be willing to increase its $5.7 billion offer to buy Cephalon Inc (CEPH.O) if the U.S. drugmaker opens its books to allow due diligence. Valeant announced an unsolicited takeover 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 $76.54 on Monday. It was not the first time that Valeant has said it might sweeten its bid, underscoring the urgency of its wish to resolve issues quickly as takeover activity in the pharmaceuticals sector heats up.
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