William Ackman's Pershing Square Capital Management on Friday it filed a lawsuit against Allergan Inc seeking confirmation that its request to hold a special meeting of Allergan shareholders would not trigger poison pill takeover defense.Ackman and Valeant Pharmaceuticals International are pursuing in a hostile takeover of Allergan.Ackman, who owns nearly 10 percent of Allergan, has called for a shareholder meeting to elect new directors to the company's board. The suit seeks to confirm that Ackman is not about to trigger Allergan's poison pill takeover defense as it seeks shareholder support for the meeting.Allergan, which makes Botox for wrinkles and other uses, has rejected a $53 billion joint offer from Ackman and Valeant. Ackman last week filed documents with the Securities and Exchange Commission that would start a proxy battle.
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 0.51% or $0.82/share to $162.86. In the past year, the shares have traded as low as $81.33 and as high as $172.48. On average, 4635540 shares of AGN exchange hands on a given day and today's volume is recorded at 2031329.
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 0.41% or $-0.5/share to $120.25. In the past year, the shares have traded as low as $81.94 and as high as $153.10. On average, 3378190 shares of VRX exchange hands on a given day and today's volume is recorded at 3279909.
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 0.43% or $-0.56/share to $130.56. In the past year, the shares have traded as low as $83.39 and as high as $170.45. On average, 379248 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 329104.
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