Activist investor William Ackman on Monday defended Valeant Pharmaceuticals during an interview on CNBC television and said that Allergan Inc shareholders told him they would support a deal at $180 per share. Ackman, who said that Valeant was a company in the model of esteemed investor Warren Buffett's Berkshire Hathaway Inc rather than Tyco Inc, said that he met with Allergan's large shareholders before Valeant raised its bid to about that level on May 30.Ackman, who owns almost 10 percent of Allergan, and Valeant are in the midst of a hostile takeover battle. Allergan rejected the first offer and has not responded to the second or third sweetened bids. This is Ackman's first public appearance regarding the takeover attempt since it was announced in April.
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 fell by 0.51% or $-0.84/share to $165.06. In the past year, the shares have traded as low as $81.33 and as high as $172.48. On average, 4601390 shares of AGN exchange hands on a given day and today's volume is recorded at 2287706.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 0.41% or $795.0/share to $192895.00. In the past year, the shares have traded as low as $163038.00 and as high as $194670.00. On average, 308 shares of BRK-A exchange hands on a given day and today's volume is recorded at 259.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 0.35% or $0.45/share to $128.65. In the past year, the shares have traded as low as $108.12 and as high as $129.73. On average, 3393330 shares of BRK-B exchange hands on a given day and today's volume is recorded at 2241585.
Source
