Billionaire William Ackman is close to signing up Allergan investors who combined own at least 35 percent of the Botox maker to call a special shareholder meeting, according to people familiar with the matter, giving the hedge fund manager a victory in his fight to acquire Allergan. Ackman, whose Pershing Square Capital Management is Allergan's largest shareholder with a 9.7 percent stake, has teamed up with Canada's Valeant Pharmaceuticals International Inc to pursue a hostile takeover bid for Allergan.
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 traded higher by 0.42% or $0.5001/share to $120.38. In the past year, the shares have traded as low as $98.61 and as high as $153.10. On average, 2711840 shares of VRX exchange hands on a given day and today's volume is recorded at 404378.
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 traded higher by 1.14% or $1.5/share to $132.62. In the past year, the shares have traded as low as $101.93 and as high as $170.45. On average, 344962 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 117515.
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