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Message:: [QUOTE="Anonymous, post: 5135581"]July 1st updates In the interview, Allergan CEO Pyott was more specific. Pyott has met with investors to talk about the company's defense, which he said could include issuing new debt to buy back shares. He said Allergan could borrow up to $10 billion without affecting its investment-grade rating, but he did not say how much the company might spend on the buybacks. "Our goal now is to give them most of what they want," Pyott said, referring to Allergan shareholders. A leveraged buyback would increase the amount of Allergan's debt, making its balance sheet less attractive to a would-be acquirer. Allergan currently has little debt, one of the company features that appeals to debt-laden Valeant. A buyback would also reduce the number of shares outstanding, which would raise its earnings per share and increase shareholder value. An acquisition by Allergan could also increase earnings, he said.[/QUOTE]