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Mergers & Acquisitions

Apr. 25, 2014

Allergan adopts poisin pill defense in response to takeover bid

Irvine-based cosmetic drug developer Allergan Inc. announced late Tuesday that the company's board of directors had adopted a one-year shareholder rights plan to buy time to consider an unsolicited $45.6 billion buyout offer.


By Dominic Fracassa


Daily Journal Staff Writer


Irvine-based cosmetic drug developer Allergan Inc. announced late Tuesday that the company's board of directors had adopted a one-year shareholder rights plan in an effort to buy time to consider an unsolicited $45.6 billion buyout offer from Valeant Pharmaceuticals International Inc. and the hedge fund Pershing Square Capital Management LP.


Latham & Watkins LLP is counseling Allergan wit...

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