The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * As Detroit prepares to defend its plan next week to exit bankruptcy, city leaders have received an unusual offer: Why not mortgage all the Van Goghs, Picassos and other works in the Detroit Institute of Arts? A company called Art Capital, which makes loans backed by artwork, has told the city it is willing to lend it up to $3 billion, roughly 10 times the exit financing Detroit is now contemplating, using the museum's art as collateral. But the city's response is silence. (nyti.ms/1tBtQtM)* Allergan Inc, the Botox maker fending off a hostile takeover attempt by Valeant Pharmaceuticals International Inc and Pershing Square Capital Management, has set a date for a special meeting at which shareholders will have the opportunity to vote out a majority of the board. In a filing with the Delaware Chancery Court, Allergan said the meeting would take place on Dec. 18. (nyti.ms/1ryIcfQ)
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 0.34% or $0.56/share to $163.97. In the past year, the shares have traded as low as $86.95 and as high as $174.49. On average, 2748930 shares of AGN exchange hands on a given day and today's volume is recorded at 1339528.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 1.4% or $1.62/share to $117.10. In the past year, the shares have traded as low as $95.28 and as high as $153.10. On average, 3243810 shares of VRX exchange hands on a given day and today's volume is recorded at 1593183.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 1.13% or $1.43/share to $128.22. In the past year, the shares have traded as low as $99.90 and as high as $170.45. On average, 352237 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 184355.
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