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Friday, 13 June 2014

Ackman seeks court ruling on Allergan special meeting

Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks at the Sohn Investment Conference in New York (Reuters) - William Ackman's Pershing Square Capital Management said it had filed a lawsuit seeking confirmation that a requested special shareholder meeting of Allergan Inc's shareholders would not trigger Allergan's poison pill takeover defense. The Botox maker has rejected a $53 billion joint offer from Ackman and Canadian drugmaker Valeant Pharmaceuticals International. Allergan said in April that its board had adopted a one-year shareholder rights plan to give it more time to consider takeover proposals. Allergan's shareholder rights plan will trigger if a person or group acquires 10 percent or more of its shares.








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