1. Ackman, Valeant buy stake in Allergan, eye takeover

    Ackman, Valeant buy stake in Allergan, eye takeover

    Activist investor William Ackman and Canadian company Valeant Pharmaceuticals established a joint venture with an eye towards acquiring botox maker Allergan, according to a securities filing Monday. Ackman's fund, Pershing Square Capital Management, and Quebec-based Valeant, acquired 28.9 million shares of Allergan, or 9.7 percent of the company. "Valeant currently intends to propose a merger in ...

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    1. Valeant currently intends to propose a merger in which (Allergan) will receive a combination of cash and Valeant common shares.
    2. Although Valeant currently expects to make an offer, it is under no obligation and provides no assurance it will do so.
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