Connect with us

Hi, what are you looking for?

Jewish Business News


John Paulson Adds Battleground Stock Allergan

John Paulson 640x360

Fund manager John Paulson added a new position in controversial stock Allergan, which is the object of a hostile takeover bid by Valeant Pharmaceuticals. The Allergan position now accounts for 4.11% of Paulson’s portfolio.

Canadian drugmaker Valeant, with the backing of hedge fund manager Bill Ackman, has made a hostile takeover for the Botox maker. Ackman created a 9.7% stake in Allergan, and has been pushing Allergan to accept the bid, which Allergan management says “grossly undervalues” the company. Allergan has fought back against Valeant, filing a lawsuit in August, claiming that Valeant and Ackman violated laws forbidding insider trading and engaged in fraudulent practices. In addition, Allergan CEO David Pyott pointed out that Valeant is like a Pac-man, eating up companies, but lacking a sustainable growth plan for acquisitions and piling up huge debt.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Allergan’s suit follows previous lawsuit by Bill Ackman and Valeant trying to force Allergan’s shareholders to hold a special meeting to discuss the acquisition. In spite of all of this turmoil, Allergan’s stock has been performing well, with a 23.8% increase in non-GAAP earnings per share for 2Q, with pharmaceutical sales increasing 13.2% and medical devices, by 25.8%



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News