Hedge fund mogul William Ackman told investors they could see a $6 billion payday when he closes the chapter on Allergan Inc., his firm's biggest bet of 2014.One week after Allergan agreed to sell itself to rival Actavis Plc., Ackman wrote in his quarterly investment letter that his Pershing Square Capital Management, the Botox-maker's biggest investor, still owns 26.6 million shares.At the end of the third quarter Ackman's $18 billion fund owned 28.87 million Allergan shares, a regulatory filing showed.While this isn't the deal the activist investor originally wanted - he had been pushing since April for rival Valeant purchase Allergan - it will be lucrative all the same.
Shares of ACT fell by 0.54% or $-1.45/share to $268.86. In the past year, the shares have traded as low as $156.40 and as high as $271.51. On average, 2837370 shares of ACT exchange hands on a given day and today's volume is recorded at 526752.
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 0.65% or $1.375/share to $213.48. In the past year, the shares have traded as low as $94.98 and as high as $214.20. On average, 2847190 shares of AGN exchange hands on a given day and today's volume is recorded at 331324.
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