Hedge fund manager William Ackman's $13.6 billion Pershing Square Capital Management has received permission from the U.S. Federal Trade Commission to turn Allergan Inc options into shares, a source familiar with the matter said on Friday. Ackman is working with Valeant Pharmaceuticals International Inc to purchase the Botox maker. Two weeks ago, Pershing Square said in a U.S. regulatory filing that it had acquired a nearly 10 percent stake in Allergan, using call options and forward contracts to help build its position.
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 0.1% or $0.17/share to $168.86. In the past year, the shares have traded as low as $81.33 and as high as $170.05. On average, 3930130 shares of AGN exchange hands on a given day and today's volume is recorded at 455932.
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 fell by 0.89% or $-1.23/share to $136.90. In the past year, the shares have traded as low as $72.25 and as high as $153.10. On average, 2551350 shares of VRX exchange hands on a given day and today's volume is recorded at 858994.
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 fell by 0.96% or $-1.46/share to $150.02. In the past year, the shares have traded as low as $72.59 and as high as $170.45. On average, 392934 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 83102.
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