Connect with us

Hi, what are you looking for?

Jewish Business News


Major Allergan Shareholders Discourage Botox Maker from Buying Salix

Bill Ackman facebook

It is no secret that Allergan has been in a war against Valeant Pharmaceuticals and activist investor Bill Ackman, who owns a stake in Allergan, to avoid being taken over by Valeant in what it sees as an offer that “grossly undervalues” the company. Allergan has been eyeing an acquisition of its own, Salix Pharmaceuticals, in an effort to thwart Valeant’s plans. Valeant has been trying to buy Allergan out for $54 billion, but the Botox maker has been cutting costs and is now looking at an acquisition to fight off Valeant.

Jeff Van Harte, chairman and chief investment officer of Jackson Square, which owns a $1 billion stake in Allergan, cautioned the company not to make any bold moves or big deals before consulting with shareholders in December, when a meeting is scheduled to discuss these issues. Van Harte wrote in a letter to Michael Gallagher, the lead independent director of Allergan, according to PRNewswire, “This approach seems to be intended not only to pre-empt shareholder approval, but also to eliminate interest from several bidders for the company.” Jackson Square was also critical of Allergan’s refusal to have talks with Valeant and for not buying back stock when shares were inexpensive.

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.

T Rowe Price Group, Allergans third largest shareholder, also urged Allergan to avoid making a move without shareholder consent, even though Allergan is legally able to proceed.



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