Valeant Pharmaceuticals International Inc and activist investor William Ackman got their request for an expedited trial on Wednesday over the timing of a special meeting of Allergan Inc shareholders, a key to their $50 billion hostile takeover fight.Delaware Court of Chancery Chancellor Andre Bouchard ordered a three-day trial to begin on Oct. 6. That start date is in line with their request for the court to order Allergan - after the trial ends - to call a special meeting by mid-November.That is about a month earlier than the Dec. 18 date when Allergan has said it will hold the meeting at which Ackman and Valeant hope to elect new board members and open discussions on a deal.The court order comes after Ackman's Pershing Square Capital Management hedge fund and Canada's Valeant sued the maker of Botox anti-wrinkle treatment on Friday, saying the company did not intend to call a meeting at all. Allergan subsequently set the meeting date.
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 1.03% or $-1.69/share to $162.28. In the past year, the shares have traded as low as $86.95 and as high as $174.49. On average, 2748930 shares of AGN exchange hands on a given day and today's volume is recorded at 549850.
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 1.18% or $-1.38/share to $115.72. In the past year, the shares have traded as low as $95.28 and as high as $153.10. On average, 3243810 shares of VRX exchange hands on a given day and today's volume is recorded at 896565.
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 2.08% or $-2.67/share to $125.55. In the past year, the shares have traded as low as $99.90 and as high as $170.45. On average, 352237 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 89907.
Source
