Activist investor Pershing Square on Monday said it launched a process to call a special meeting of Allergan Inc shareholders, a move that could turn over most of the drug company's board and open the door to a takeover by Valeant Pharmaceuticals Inc. Pershing CEO Bill Ackman, whose hedge fund owns 9.7 percent of Allergan, urged the company to negotiate with Valeant and said a merger deal could be done within a week.
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 remained unchanged at $167.46. In the past year, the shares have traded as low as $81.33 and as high as $170.05. On average, 4475300 shares of AGN exchange hands on a given day and today's volume is recorded at 2075.
Source
