Corporate
Nov. 1, 2014
Orange County judge wrestles with Allergan hostile takeover bid
A Santa Ana judge must distill arguments among Allergan, Valeant and Pershing Square Capital over whether the actions taken by Allergan's would-be acquirers constituted a violation of federal insider trading laws.
Daily Journal Staff Writer
In April, when Valeant Pharmaceuticals International Inc. and the hedge fund Pershing Square Capital Management LP announced a joint bid to acquire Irvine-based Botox maker Allergan Inc., the corporate world took notice. The partnership between an acquiring company and a hedge fund led by the prominent activist investor William A. Ackman was widely regarded as the first of its kind, prompting a flurry of q...
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