Billionaire investor William Ackman has purchased a five percent stake in Valeant Pharmaceuticals (VRX.TO) (VRX.N), his hedge fund said on Monday, making him the Canadian drug company's fifth-largest stakeholder.
Hedge fund mogul William Ackman told investors they could see a $6 billion payday when he closes the chapter on Allergan Inc., his firm's biggest bet of 2014.
Allergan Inc is close to a buyout deal worth up to $65.5 billion by Actavis Plc, one that could end months of pursuit by Canada’s Valeant Pharmaceuticals and William Ackman's hedge fund, Pershing Square Capital Management, according to a person familiar with the matter.
Botox maker Allergan Inc (AGN.N), fighting a hostile takeover bid by Valeant Pharmaceuticals Inc (VRX.TO), said on Monday it was approached about a potential transaction by another party, identified as Actavis Plc (ACT.N) by a source familiar with the situation.
Allergan Inc (AGN.N) shareholder Paulson & Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc (SHP.L) as an alternative to a deal with hostile bidder Valeant Pharmaceuticals International Inc (VRX.TO), according to two people familiar with the matter.
Dublin, Ireland-based pharmaceutical firm Actavis sold its stake in Chinese subsidiary Actavis (Foshan Pharmaceutical Co) for an undisclosed sum because of its limited presence in the country.
India-based Aurobindo Pharma Ltd will be purchasing the generic drug operations of Dublin-based Actavis in seven countries in Western Europe in a deal worth around €30 million, Bloomberg reported.
A suit was filed in New Jersey District Court against Actavis by Ranbaxy Laboratories for its attempt to produce a generic version of Absorica.