Activist Hedge Fund Proposes Six New Directors For Allergan Inc. Board

Pershing Square Capital Management LP, the hedge fund run by Bill Ackman, proposed six new directors for Allergan Inc. (AGN), the company Ackman wants Valeant Pharmaceuticals International Inc. (VRX) to buy.

Pershing Square, which amassed a 9.7 percent stake in Allergan ahead of Valeant’s takeover bids, has called for a special meeting of Allergan shareholders that will include a vote on the board and is expected to be held by the end of 2014.

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