Ackman urges Allergan talks with Valeant, no delay to special meeting: Reuters
Activist investor Bill Ackman urged Botox maker Allergan Inc to negotiate a possible takeover by Valeant Pharmaceuticals Inc and not delay a special shareholder meeting that could overturn most of Allergan's board, Reuters reported. Ackman's Pershing Square Capital Management hedge fund, Allergan's largest shareholder, is attempting to gain support of shareholders to call a special meeting, during which it would seek to remove six directors. Laval, Québec-based Valeant made a cash and stock bid for the company in April and has since raised its US$51-billion offer.
16 July 2014•2 mins read
