The chief executive officer of Valeant Pharmaceuticals, which made a $47 billion unsolicited offer for competitor Allergan Inc on Tuesday, said during an interview on CNBC that he was "disappointed" with Allergan's so-called poison pill.Allergan on Tuesday night said its board of directors had adopted a one-year stockholder rights plan to give it more time to consider takeover proposals. The Valeant offer was made with Pershing Square Capital Management hedge fund, which built up a stake in the company."We are disappointed but on the other hand, I think this deal will get done," Valeant CEO Michael Pearson said on Wednesday.
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 0.21% or $0.35/share to $164.00. In the past year, the shares have traded as low as $81.33 and as high as $165.45. On average, 3528730 shares of AGN exchange hands on a given day and today's volume is recorded at 8119376.
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