The Globe and Mail reports in its Wednesday edition Allergan has approached Salix Pharmaceuticals and at least one other company about a potential acquisition, as the Botox maker seeks to fend off a $53-billion hostile takeover from Valeant (all figures U.S.). A Dow Jones dispatch to The Globe says Allergan could strike a takeover deal with the company or another unknown party as early as next month. Salix, which has a market value of $8.8-billion, is in the process of merging with a unit of an Italian company, Cosmo Pharmaceuticals SpA. If Allergan were to proceed with a takeover of Salix, it is not clear whether Allergan would also buy Cosmo. Either way, signs that Allergan is getting close to launching a large takeover of its own adds another layer of intrigue to one of the year's biggest and most colourful takeover dramas. In the face of Allergan's opposition to a deal, Valeant and partner Bill Ackman are trying to call a special meeting of Allergan shareholders in order to remake the company's board. Allergan has said it is eyeing acquisitions of its own. A Salix takeover, which could exceed $10-billion, could make it harder for Valeant and Mr. Ackman to acquire Allergan.