Ackman: Allergan should run an auction

[Anonymous]

http://www.reuters.com/article/2014...a-valeant-pharms-ackman-idUSKBN0IR1LX20141107

(Reuters) - Valeant Pharmaceuticals International Inc can pay "substantially" more for Allergan Inc and should get a fair shot at buying it, William Ackman, the Botox maker's biggest shareholder, said on Friday.

Ackman said this in a letter to Allergan's board the day after the company said it was discussing a merger with another company, widely reported to be Actavis, to fend off hostile bidder Valeant.

Ackman, whose hedge fund Pershing Square Capital Management owns nearly 10 percent of Allergan, asked the board to see which suitor comes up with the best offer.

He urged the board to run an auction "where neither party is the favored bidder, and both are encouraged to offer maximum value – before any obligation to pay a breakup fee is incurred."

Valeant shares fell nearly 1 percent in early trading on Friday amid talk that the company's proposed plan to buy Allergan might collapse. Allergan stock was down 1.6 percent.

Valeant and Ackman shocked Wall Street in April when they said they were working on a takeover deal that Allergan has steadfastly rebuffed as it tries to find another merger partner.

 

[Anonymous]

They're sounding pretty desperate to me. Ha! Love it!! Ackman and Pearson left out of the dance!!

 

[Anonymous]

With VRX stock tanking, they are going to need to come up with north of $100 per share. That is a lot of jack for a debt-riddled company.

 

[Anonymous]

With VRX stock tanking, they are going to need to come up with north of $100 per share. That is a lot of jack for a debt-riddled company.

Meant to say cash per share.

 

[Anonymous]

http://www.businessinsider.com/r-ackman-to-allergan-board-valeant-can-pay-more-for-company-2014-11

The title of this article kills me. "Ackman Tells Allergan To Stop Flirting With Other Suitors"

 

[Anonymous]

With VRX stock tanking, they are going to need to come up with north of $100 per share. That is a lot of jack for a debt-riddled company.

Concerning your comment that Valeant needs to come up with more than $100 cash per share, here is what CEO Pearson had to say about that:

"I have personally sat down with all of Allergan's major shareholders. All of them believe the deal is compelling. And in terms of...our equity, most of their shareholders would actually prefer to get more equity (in VRX) and less cash."

I hope you were not in the middle of taking a big swig out of your official Allergan coffee mug while you were reading that last part : )

 

[Anonymous]

Concerning your comment that Valeant needs to come up with more than $100 cash per share, here is what CEO Pearson had to say about that:

"I have personally sat down with all of Allergan's major shareholders. All of them believe the deal is compelling. And in terms of...our equity, most of their shareholders would actually prefer to get more equity (in VRX) and less cash."

I hope you were not in the middle of taking a big swig out of your official Allergan coffee mug while you were reading that last part : )

I actually was, and it made me guffaw. Coffee all over my official Allergan laptop! We ALL know Pearson would NEVER lie..............................right?

 

[Anonymous]

Concerning your comment that Valeant needs to come up with more than $100 cash per share, here is what CEO Pearson had to say about that:

"I have personally sat down with all of Allergan's major shareholders. All of them believe the deal is compelling. And in terms of...our equity, most of their shareholders would actually prefer to get more equity (in VRX) and less cash."

I hope you were not in the middle of taking a big swig out of your official Allergan coffee mug while you were reading that last part : )

Also, what is your stock price right now? Multiply that by .83. Now figure out how much you need to get beyond $200 per share.

 

[Anonymous]

Ackman can do or say what he wants, as at the end of all this whatever the outcome, he makes money!

But Billy boy there are more important things in life.

 

[Anonymous]

I am cautiously optimistic that the insider trading issues stick. In which case he gets NADA.

 

[Anonymous]

If a allergan goes to the highest bidder, the board gets to value VRX equity which they obviously don't value very highly. Hope it doesn't come to that.

 

[Anonymous]

If a allergan goes to the highest bidder, the board gets to value VRX equity which they obviously don't value very highly. Hope it doesn't come to that.

It won't/

Actavis will lock this up shortly.

 

[Anonymous]

Concerning your comment that Valeant needs to come up with more than $100 cash per share, here is what CEO Pearson had to say about that:

"I have personally sat down with all of Allergan's major shareholders. All of them believe the deal is compelling. And in terms of...our equity, most of their shareholders would actually prefer to get more equity (in VRX) and less cash."

I hope you were not in the middle of taking a big swig out of your official Allergan coffee mug while you were reading that last part : )

And by "major shareholders", Pearson means :

"Well, it's actually more like the 35% who agreed to a shareholder meeting. Those 35% are from Bill Ackman's proxy solicitation, which isn't a real solicitation, but still...some of them own a lot of stock, and that makes them major shareholders. A lot of those major shareholders are hedge funds that bought Allergan stock when we announced our hostile bid, the rest voted for a shareholder meeting because they believe in shareholders' rights. We can't guarantee the latter will vote in favor of an acquisition, so we're not counting them, but we're still going to say it's 35% that are in favor, okay? We're pretty confident the event-driven hedge funds will vote in favor for an acquisition though...I mean, not RIGHT NOW - since our stock dropped 7 points this week, and Allergan's gained 8 - but later, closer to the December 18 meeting.

So overall, I talked with all the major shareholders, and most of them would favor VRX equity instead of cash."

 

[Anonymous]

Mike Pearson is your new CEO, embrace him!

 

[Anonymous]

OK Ackman lets have an auction.

Starting Price = the current AGN Stock Price
Reserve Price = $205 per share

Please can we have an opening bid?


Oh yes, please can you also declare how you intend to pay for this!