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Thursday, November 20, 2014

Valeant slashes stake in Allergan after losing bid, (NYSE: ACT), (NYSE: AGN), (NYSE: VRX), (TSE: VRX.TO)

Valeant Pharmaceuticals International Inc said it cut its stake in Allergan Inc to 0.1 percent from 9.7 percent, three days after Actavis Plc trumped its offer for the Botox maker. Pershing Square Capital Management informed Valeant that PS Fund 1 sold all of its 2.2 million shares in Allergan allocated to Valeant USA, Valeant said in a regulatory filing.PS Fund 1 is a shell fund that was set up by Valeant and Pershing Square to act as a joint acquisition vehicle.Pershing Square, run by billionaire William Ackman, had been working with Valeant for a deal for the Canadian drugmaker to purchase Allergan.Dublin-based Actavis offered $219 per share in cash and stock, amounting to billions more than Canada's Valeant was prepared to pay. (Reporting By Subrat Patnaik and Narottam Medhora in Bangalore; Editing by Ken Wills)

Shares of ACT fell by 1.32% or $-3.56/share to $266.04. In the past year, the shares have traded as low as $156.40 and as high as $270.34. On average, 2640450 shares of ACT exchange hands on a given day and today's volume is recorded at 6657388.

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 0.37% or $-0.78/share to $212.59. In the past year, the shares have traded as low as $94.98 and as high as $214.20. On average, 2677680 shares of AGN exchange hands on a given day and today's volume is recorded at 4799848.

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 0.37% or $0.53/share to $142.47. In the past year, the shares have traded as low as $105.17 and as high as $153.10. On average, 2643360 shares of VRX exchange hands on a given day and today's volume is recorded at 2277791.

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 0.8% or $1.28/share to $161.70. In the past year, the shares have traded as low as $111.85 and as high as $170.45. On average, 484543 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 558833.



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