Fri, Apr 27, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Valeant Welcomes John Paulson’s $1bn stake in Allergan

Wednesday, July 02, 2014

Komfie Manalo, Opalesque Asia:

Valeant Pharmaceuticals Inc's chief executive Michael Pearson on Thursday welcomed news that hedge fund manager John Paulson through his firm, Paulson & Co., is building a $1bn stake in Allergan, Reuters said.

Deal-making drug-maker Valeant has partnered with activist hedge fund manager Bill Ackman of Pershing Square to acquire Allergan and shake up its board.

In an interview with Canada's BNN TV, Pearson said he was delighted with Paulson’s move to buy six million shares at Allergan. "We do believe we'll get the 25 percent and the majority we need to get this deal consummated," he was quoted as saying.

According to the report, Paulson’s position, together with Pershing Square’s stocks, are sufficient to provide the group with a 25% support of Allergan shares required to call the special meeting to replace majority of Allergan’s current sitting board.

On Wednesday, Paulson announced he has built a $1bn stake in Allergan and supports a takeover of the Botox maker by Valeant. Paulson's position is a boost to Valeant and its partner in the hostile bid, Ackman. Valean......................

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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its