Valeant Pharmaceuticals International Inc said on Thursday it had named the head of a top shareholder, ValueAct Capital, to its board of directors and vowed to continue with its hostile takeover attempt on Botox maker Allergan Inc. ValueAct had a seat on Valeant's board until May, when its representative Mason Morfit did not seek re-election in order to devote time to Microsoft Corp.ValueAct's Jeffrey Ubben said he will work with Valeant's board on securing the Allergan acquisition and that the company is anticipating increasing its stake in the company, which stood at 5.7 percent in May.Ubben has previously expressed some concerns about the deal, telling Reuters in August that while he still liked the deal, a drawn-out battle to control the company would come at too high of a cost for Valeant if it lost other opportunities.Since then, Allergan has set a Dec. 18 date for a meeting of shareholders at the request of Pershing Square Capital Management and other shareholders representing more than 35 percent of outstanding 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 remained unchanged at $176.28. In the past year, the shares have traded as low as $88.34 and as high as $176.75. On average, 1981520 shares of AGN exchange hands on a given day and today's volume is recorded at 0.
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 remained unchanged at $124.00. In the past year, the shares have traded as low as $102.30 and as high as $153.10. On average, 2517520 shares of VRX exchange hands on a given day and today's volume is recorded at 2600.
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 7.02% or $9.0/share to $137.29. In the past year, the shares have traded as low as $105.52 and as high as $170.45. On average, 382902 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 630329.
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