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Allergan Inc. (AGN) Comments On Pershing Square’s And Valeant Pharmaceuticals International (VRX)’s Attempt To Remove A Majority Of The Members Of The Allergan Board Of Directors


6/2/2014 12:51:56 PM

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IRVINE, Calif.--(BUSINESS WIRE)--Allergan, Inc. (NYSE: AGN) (“Allergan” or the “Company”) today issued the following statement regarding the filing by Pershing Square Capital Management, L.P. (“Pershing Square”) of preliminary proxy materials with the Securities and Exchange Commission (“SEC”) in order to solicit proxies to call a Special Meeting of Allergan’s Stockholders. At the Special Meeting, Allergan stockholders would be asked to remove a majority of the Company’s existing directors in connection with Valeant Pharmaceuticals International, Inc. (“Valeant”) and Pershing Square’s previously announced unsolicited proposal to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares, $72.00 in cash per share of common stock of the Company, and a Contingent Value Right (CVR) related to DARPin® sales (the “Re-Revised Proposal”) and request that new directors be appointed.

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