William Ackman's Pershing Square Capital Management proposed on Monday a slate of six directors for the board of Allergan Inc as the hedge fund presses forward with its $53 billion takeover bid with Valeant Pharmaceuticals International Inc for the Botox maker. Pershing Square nominated Betsy Atkins, chief executive officer of venture capital firm Baja; Cathleen Black, senior adviser at RRE Ventures who was also a former chancellor of New York City's public schools and a former president of Hearst Magazines; Fredric Eshelman of investment firm Eshelman Ventures; Steven Shulman, managing director of Shulman Ventures, a private equity firm; David Wilson, former CEO of the Graduate Management Admission Council, and John Zillmer, former executive chairman of chemicals distributor Univar Inc.Allergan is best known for Botox, an anti-wrinkle injection. Botox is also used to treat other medical conditions, including chronic migraine headaches.Pershing Square is pushing for a special meeting of Allergan shareholders to consider the removal of six incumbent directors and the appointment of its slate of nominees.Canada's Valeant has said it already has enough shareholders on its side to call the meeting. It would need the support of holders of at least 25 percent of the shares.
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 1.87% or $-3.16/share to $165.97. In the past year, the shares have traded as low as $83.95 and as high as $174.49. On average, 4500290 shares of AGN exchange hands on a given day and today's volume is recorded at 1459450.
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 2.11% or $-2.66/share to $123.34. In the past year, the shares have traded as low as $88.01 and as high as $153.10. On average, 3690450 shares of VRX exchange hands on a given day and today's volume is recorded at 1519803.
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 0.99% or $-1.32/share to $131.68. In the past year, the shares have traded as low as $92.42 and as high as $170.45. On average, 385119 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 201969.
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