Taconic Capital Advisors L.P. said on Friday it has accumulated a 7.46 percent stake in U.S. drug maker Cephalon Inc (CEPH.O), subject of a $5.7 billion takeover bid from Valeant Pharmaceuticals (VRX.TO) (VRX.N). In a filing with U.S. regulators, Taconic said the position was built for investment purposes and not with a view towards changing or influencing control of Cephalon. Taconic, now Cephalon's fourth biggest institutional shareholder according to Thomson Reuters data, said in a filing with the U.S. Securities and Exchange Commission that it might talk with Cephalon, its shareholders and Valeant regarding Valeant's bid. Taconic was not immediately available for comment.
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