Allergan Inc shareholder Paulson & Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals International Inc, according to two people familiar with the matter.The hedge fund, which earlier supported a deal with Valeant, told Allergan CEO David Pyott that it would now support a deal with Shire, the sources said. It was not immediately clear whether Allergan would pursue such a deal.Paulson had a 1.9 percent stake in Allergan, making it one of the company's top 10 shareholders, according to Thomson Reuters data as of June 30. Paulson was also Shire's third-largest shareholder, according to the data.Allergan and Paulson declined to comment. Shire, which makes drugs to treat attention deficit disorder and rare diseases, was not immediately available for comment.
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 traded higher by 0.99% or $1.76/share to $179.25. In the past year, the shares have traded as low as $88.34 and as high as $192.98. On average, 2317830 shares of AGN exchange hands on a given day and today's volume is recorded at 2117897.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.48% or $0.17/share to $35.63. In the past year, the shares have traded as low as $33.21 and as high as $38.73. On average, 734885 shares of TRI exchange hands on a given day and today's volume is recorded at 530974.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.55% or $0.22/share to $40.21. In the past year, the shares have traded as low as $36.18 and as high as $42.10. On average, 715184 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 451306.
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 3.8% or $4.57/share to $124.78. In the past year, the shares have traded as low as $102.60 and as high as $153.10. On average, 2848230 shares of VRX exchange hands on a given day and today's volume is recorded at 3400991.
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 3.91% or $5.3/share to $140.74. In the past year, the shares have traded as low as $107.30 and as high as $170.45. On average, 471910 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 399848.
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