Activist investor William Ackman has acquired a nearly 10 percent stake in wrinkle-treatment maker Allergan Inc and is working with Valeant Pharmaceuticals International Inc to purchase the company, sources said on Monday.Ackman's Pershing Square, a $13 billion hedge fund, has spent roughly $4 billion on acquiring the stake, making it the hedge fund's biggest-ever investment and coming less than one year after taking a stake in Air Products & ChemicalsPershing Square began buying stakes in Allergan in February, according to a regulatory filing, with money it had freed up by trimming its stake in Beam and getting out of General Growth Properties, one of its biggest winners ever.Valeant, a Canadian pharmaceutical company known for its skin care products and generic drugs, has been on buying spree and most recently acquired Bausch & Lomb Holdings.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 6.03% or $8.08/share to $142.00. In the past year, the shares have traded as low as $81.33 and as high as $134.41. On average, 2944310 shares of AGN exchange hands on a given day and today's volume is recorded at 10482645.
General Growth Properties, Inc. is a real estate investment trust (REIT). Shares of GGP traded higher by 0.13% or $0.03/share to $22.84. In the past year, the shares have traded as low as $18.63 and as high as $23.33. On average, 5120910 shares of GGP exchange hands on a given day and today's volume is recorded at 3700298.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 3.24% or $3.96/share to $126.01. In the past year, the shares have traded as low as $71.97 and as high as $153.10. On average, 1972590 shares of VRX exchange hands on a given day and today's volume is recorded at 2777655.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 3.21% or $4.31/share to $138.76. In the past year, the shares have traded as low as $72.59 and as high as $170.45. On average, 377123 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 318584.
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