Does Ackman and Pershing Square really have the 25%?

[Anonymous]

According to Bloomberg, no. I couldn't find the other sources that said he did have 25% or even 30% agreement to hold the shareholder meeting. Maybe that's why the tender offer was pushed back to the end of the year?

Source: http://www.bloomberg.com/news/2014-...gan-cfo-quitting-opening-line.html?cmpid=yhoo

 

[Anonymous]

According to Bloomberg, no. I couldn't find the other sources that said he did have 25% or even 30% agreement to hold the shareholder meeting. Maybe that's why the tender offer was pushed back to the end of the year?

The article is conflating the tender offer response with the call for a special meeting.

quote:
"After receiving somewhere in the area of 4 percent of Allergan stock by the Aug. 15 deadline, Valeant CEO Michael Pearson and Ackman have a long way to go to get the 25 percent they need to call the special meeting, and they’re still going."

 

[Anonymous]

You have to assume the proxies will be filed AFTER tomorrow California hearing in the lawsuit. Then Ackman will obviously file his 9.7% and Paulson will as well. Most other hedgies are likely on the sideline as well until after the court rules whether ackman's shares are legal or not. Nobody important is going to play their cards until they see his. It's a waiting game, nothing to read into in any direction. anyone looking for answers immediately pro AGN or pro VRX is going to be disappointed.

 

[Anonymous]

ackman was touting mid august for proxy submission and he is behind schedule ... that's a fact

tomorrow's court date is to work out a schedule of hearing ... expedited or not expedited. so ackman might not have 25 % as waiting for lawsuit excuse is lame

 

[Anonymous]

lame or not, if you were a hedge fund in a heavy position in AGN, why would you disclose your intentions in either direction before you knew if/when Ackman could vote his shares?

If your goal is to get the most value possible, you wait as long as you can to declare your position. That's negotiating 101. So until Ackman's shares are decided to be legal, and his proxy is submitted, why would any hedge fund or Arb sign and submit anything?

just use your heads people.

 

[Anonymous]

lame or not, if you were a hedge fund in a heavy position in AGN, why would you disclose your intentions in either direction before you knew if/when Ackman could vote his shares?

If your goal is to get the most value possible, you wait as long as you can to declare your position. That's negotiating 101. So until Ackman's shares are decided to be legal, and his proxy is submitted, why would any hedge fund or Arb sign and submit anything?

just use your heads people.

It makes sense. Along with the SEC probe, the status of PS's AGN shares could take a long while to sort out. The clock is against Valeant and they might just bow out using these legal issues as an excuse.

 

[Anonymous]

ONCE AGAIN a time frame in which Valeant/Pearson promised they'd have the support of 25% has passed. June, come and gone; July 4, come and gone; mid-August, come and gone. Take your losing ways and GO HOME. Losers!!!!

 

[Anonymous]

ONCE AGAIN a time frame in which Valeant/Pearson promised they'd have the support of 25% has passed. June, come and gone; July 4, come and gone; mid-August, come and gone. Take your losing ways and GO HOME. Losers!!!!

don't forget their new deadline is turkey day

meanwhile intern and troll are preparing another lame excuse why mid august was missed

 

[Anonymous]

Nope. Only 4%

 

[Anonymous]

Ackman said he would take 1.22659 shares of Valeant for every Allergan share. So his deal is different and couldn't be part of this tender offer which offers $72 cash and 0.83 Valeant shares.