Topics

Annual and Special Corporate Meetings
Pershing proposes shuffling Allergan board
Pershing proposes shuffling Allergan board

Pershing Square Capital Management, Allergan Inc.'s biggest investor, is calling for a special shareholder meeting to remove most of the drugmaker's board in an effort to push forward a proposed acquisition by Valeant Pharmaceuticals International Inc. A deal could be signed within a week if Allergan's board decides to negotiate, Pershing Square's Chief Executive Officer Bill Ackman said Monday. Under the latest offer, Allergan shareholders would get $72 a share in cash, up from $58.30 proposed May 28 when Valeant first raised the bid, along with 0.83 of a Valeant share, the Laval, Quebec-based company said in a May 30 statement. Ackman's hedge fund, which has...

Loading