Allergan, Inc. (AGN) Issues Statement on Purported Valeant and Pershing Square Offer
- Top 10 News for 12/15 - 12/19: Russia Raises Rates, Ruble Retreats; U.S., Cuba Get Friendly; Sony Crumbles Under Pressure
- BlackBerry (BBRY) Posts Surprise Q3 Profit; Reports 100% Sequential Growth in BES10 Licenses
- Facebook's (FB) Instagram is Bigger and Better than Twitter (TWTR), Should Be Worth $35 Billion - Citi
- Nike (NKE) Tops Q2 EPS by 4c; Adjusted Futures Orders Rose 11%
- Fed's Williams Says June Good Time to Consider 'Lift-Off'
Late Monday, Allergan, Inc. (NYSE: AGN) issued a statement in response to news Valeant Pharmaceuticals (NYSE: VRX) and Pershing Square Capital plan to make a merger proposal. Allergan said they have yet to receive a offer and has had no discussions with either Valeant or Pershing Square with respect to this matter.
Allergan, Inc. (NYSE: AGN) (“Allergan” or the “Company”) today became aware of public filings made by Valeant Pharmaceuticals International, Inc. (“Valeant”) and Pershing Square Capital Management, L.P. (“Pershing Square”) regarding Valeant’s purported intention to propose a merger in which the Company’s stockholders would receive a combination of Valeant common shares and cash in exchange for the outstanding shares of the Company’s common stock. The Company’s Board of Directors (the “Board”) intends to evaluate any such offer or proposal, if received, in consultation with its financial and legal advisors, and the Board will thereafter advise the Company’s stockholders of its position regarding any such offer or proposal, as well as its reasons for that position. The Company’s stockholders do not need to take any action at this time.
Allergan has had no discussions with either Valeant or Pershing Square with respect to this matter. The Company notes that neither Valeant nor Pershing Square has put forward an offer or proposal with respect to any type of merger transaction involving the Company, and the public disclosure materials filed by those entities suggest that they have expressly reserved the right to terminate their business relationship should no such offer be forthcoming.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Pershing Square's Ackman Appears on Bloomberg TV; Herbalife (HLF) Implosion Likely in 2015
- Rogers (ROG) to Acquire Arlon
- PVH Corp. (PVH), Gazal Expand Australian JV
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Management Comments, Mergers and Acquisitions
Related EntitiesPershing Square Capital, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!