Allergan CEO's Take on How to Survive an Activist Attack
If Allergan CEO David Pyott were to do it all over again, he says he would be just as aggressive.
Last year, Allergan became the target of a coordinated hostile takeover bid from activist investor Bill Ackman and rival pharmaceutical company Valeant. The M&A battle was one of the most contentious in recent memory. To fend off the attack, Allergan AGN 0.82% said Valeant’s financial reports were opaque and potentially misleading. It called Valeant’s business model unsustainable. And, eventually, it sued Valeant VRX -0.30% and Ackman, accusing both of them of fraud and insider trading.
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Last year, Allergan became the target of a coordinated hostile takeover bid from activist investor Bill Ackman and rival pharmaceutical company Valeant. The M&A battle was one of the most contentious in recent memory. To fend off the attack, Allergan AGN 0.82% said Valeant’s financial reports were opaque and potentially misleading. It called Valeant’s business model unsustainable. And, eventually, it sued Valeant VRX -0.30% and Ackman, accusing both of them of fraud and insider trading.
Help employers find you! Check out all the jobs and post your resume.