Wall Street Market Report
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(Close): US stock markets closed lower on Wednesday.
The Dow Jones Industrial Average fell 42.43 points or 0.25% to close at 16,633.
Valeant increased the cash part of its bid, which raised its offer by $7.6bn. Valeant shares fell 2.3%.
McDonald's was the biggest loser among Dow Industrial stocks. Shares lost 1.04% after the company raised the amount of cash it plans to return to investors.
McDonald's says it will return up to $20bn between 2014 and 2016.