Bill "Activist Investor" Ackman announced his six new candidates to vie for position on the Allergan board. This is moving. Now, Ackman and Valeant CEO M. Pearson need only garner 25% of existing Allergan shareholder's votes to call a special meeting. At that time, they can offer their Band of 6 versus the current Allergan Board. If all goes to their plan, the pair will have a friendly board to accept the $53 B buyout offer that Valeant has on the table for Allergan.
Pearson says they are almost there with their 25%. He says, somewhat arrogantly, "Both sides know how this will come out" if he gets to the special election. It shouldn't be too much longer here either. See Fierce Pharma.
Posted by Bruce Lehr July 8th 2014.