Tue, Dec 1, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Ackman to pursue Allergan acquisition, a new corporate actions model emerges

Tuesday, April 22, 2014

Bailey McCann, Opalesque New York:

As Opalesque recently reported, investors are lining up for activist strategies. Those investors may be interested in the latest news from Pershing Square CEO Bill Ackman who is teaming up with Valeant Pharmaceuticals International Inc. seek to acquire the botox maker, Allergan Inc. The partnership was first reported late yesterday afternoon and marks another high profile bet for the activist who has recently staked out positions on Herbalife and JC Penny.

Valeant owns other well known brands including Bausch & Lomb and focuses heavily on eye-care. According to reports, Valeant has been trying to acquire Allergan for some time, but this acquisition attempt is likely to be hostile. Both companies posted gains in after hours trading.

The New York Times notes that if the bid is successful, a hedge fund teaming up with a corporation could provide a new model for corporate actions. The deal would have to be approved by regulators which are likely to give the transaction close scrutiny given the possibility for conflicts of interest. ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From PIonline.com: Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From Bloomberg.com: It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega