Valeant, Ackman To Submit Allergan Special Meeting Request-CNBC
Sources told CNBC television, Valeant Pharmaceuticals and Pershing Square Capital Management will submit a request on Friday to Allergan for a special shareholders meeting. Allergan’s corporate bylaws require Valeant and Pershing Square to have more than 25 percent of shareholders’ votes in favor of holding the meeting. Citing the sources, CNBC reported, they have support from more than 30 percent. Allergan is fighting Valeant and Pershing Square’s $49 billion offer to buy the company. They want to call a meeting to vote out directors and open discussions on the deal. Pershing Square owns nearly 10 percent of Allergan.
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