Valeant Pharmaceuticals International Inc and activist investor William Ackman won 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 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 1.21% or $-1.99/share to $161.98. 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 710747.
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 0.97% or $-1.14/share to $115.96. 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 1093025.
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 1.94% or $-2.49/share to $125.73. 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 103667.
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