Some of the names on the move ahead of the open.» Read More
Botox maker Allergan Inc. has set a date for a special meeting at which its shareholders will consider replacing most of its board, but it doesn't want the main proponents of that move to participate.
WILMINGTON, Del., Aug 27- Valeant Pharmaceuticals International Inc and activist investor William Ackman got their request for an expedited trial on Wednesday over the timing of a special meeting of Allergan Inc shareholders, a key to their $49 billion hostile takeover fight.
Aug 27- A Delaware judge granted a request by Valeant Pharmaceuticals International Inc and Pershing Square Capital Management for expedited proceedings in a special meeting dispute with Allergan Inc.. Andre Bouchard of Delaware's Court of Chancery scheduled a three-day trial to start Oct. 6. Allergan had proposed a Nov. 24 trial.
Investors seemed to welcome the announcement by Burger King late Sunday that it was in talks to buy Canadian coffee-and-doughnut chain Tim Hortons and create the world's third-largest fast-food restaurant company.
Allergan has repeatedly rejected Valeant's offers to buy the company, the latest for about $53 billion in cash and stock, saying Valeant is substantially undervaluing the company and that an independent Allergan can generate more value for shareholders.
NEW YORK/ BOSTON, Aug 20- A few months ago, an innovative partnership between Valeant Pharmaceuticals and billionaire investor William Ackman to buy Botox maker Allergan Inc looked like a blueprint for success.
Aug 19- Botox maker Allergan Inc has approached Salix Pharmaceuticals Ltd and at least one other company about a potential takeover in a bid to avert the $53 billion hostile takeover from Valeant Pharmaceuticals International Inc, the Wall Street Journal said. Allergan and Salix declined to comment on the matter.
IRVINE, Calif.— Botox maker Allergan, which is fighting a hostile takeover bid from Valeant Pharmaceuticals, has named longtime executive Jim Hindman its new chief financial officer. Allergan Chairman and CEO David E.I. Pyott said in a statement from the company that Edwards told him back in February that he was thinking about stepping down later in the year.
Aug 14- Pershing Square Capital Management LP, the hedge fund firm run by William Ackman, has sued the U.S. government, claiming that its stripping of Fannie Mae's and Freddie Mac's profit illegally short changes investors in the mortgage companies' common stock.
Aug 14- U.S. securities regulators are looking at the hostile takeover bid made by billionaire investor William Ackman and Valeant Pharmaceuticals for Botox maker Allergan Inc, a person familiar with the matter said on Thursday.
Aug 14- A hostile takeover bid by billionaire investor William Ackman and Valeant Pharmaceuticals International Inc to acquire Allergan Inc is being investigated by federal regulators for possible violations of securities laws, the Wall Street Journal reported, citing people familiar with the matter.
Securities regulators are looking into the joint bid by Valeant Pharmaceuticals and activist investor Bill Ackman for Allergan, Dow Jones reported.
*Equities have come under pressure because of the problems between Russia and Ukraine, with the S&P 500 at one point down about 4 percent from a record closing high in late July. *The gain implied by futures came despite ongoing concerns about the region, with Ukraine reporting that Russia had massed 45,000 troops on its border.
When Rupert Murdoch and Masayoshi Son walked away from their deals last week, the moguls created a shock wave on Wall Street.
Aug 8- The federal judge in California overseeing Allergan Inc's insider trading lawsuit against Valeant Pharmaceuticals and activist investor William Ackman has set an Aug. 20 hearing date to decide on a fast-track schedule for the case, according to court documents.
ZURICH, Aug 7- Nestle, the world's biggest food group, announced an 8 billion Swiss franc share buyback and stood by its full-year sales forecast on Thursday, after revenue growth in emerging markets picked up in the second quarter.
Aug 6- Institutional Shareholder Services is backing activist investor Bill Ackman's call for a special meeting of Allergan Inc investors that could topple the company's board and increase the chances of a takeover by Valeant Pharmaceuticals International.
Aug 6- Institutional Shareholder Services is backing activist investor Bill Ackman's call for a special meeting of Allergan Inc investors that could topple the Botox-maker's board and increase the chances of a takeover by Valeant Pharmaceuticals International.
Some of Tuesday's midday movers:
A lawsuit by Allergan says the unusual arrangement by Valeant Pharmaceuticals and activist investor Bill Ackman amounts to insider trading.