Valeant Pharmaceutical's tortuous effort to bring Botox maker Allergan to the bargaining table got new life Thursday from another hotshot activist investor, ValueAct Capital's Jeff Ubben.
The Canadian drug company said that Ubben was joining its board, which pushed Valeant's stock up 3 percent on a day when the broader markets sold off sharply. Valeant closed at $127.80, putting the value of its cash and stock offer for Allergan at $178 per share. That's higher than it has been in weeks, and close to the $180 per share investors wanted.
"We are strongly supportive of the Allergan-Valeant combination in light of their perfect strategic fit," Ubben said in a statement.
Ubben's $14.6 billion San Francisco hedge fund, which has been a major Valeant shareholder for five years, has gained prominence in the activist world in recent years. Earlier this year, it gained a seat on Microsoft's board.
Ubben's partner, Mason Morfit, left Valeant's board to take the Microsoft seat.
Ubben had initially endorsed the Allergan acquisition, going so far as to indicate it had been his idea. But his firm's departure from the board led investors to question his commitment.
Anda sedang membaca artikel tentang
Valeant’s effort to take over Allergan gets boost from investor
Dengan url
http://makananrasaenak.blogspot.com/2014/09/valeantas-effort-to-take-over-allergan.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Valeant’s effort to take over Allergan gets boost from investor
namun jangan lupa untuk meletakkan link
Valeant’s effort to take over Allergan gets boost from investor
sebagai sumbernya
0 komentar:
Posting Komentar