Ackman, Valeant team up to bid for Allergan

[riky]

Ackman, Valeant team up to bid for Allergan

<p><a href="http://news.yahoo.com/ackman-valeant-team-bid-allergan-unusual-pairing-004053077--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/ZO0AuHH.n4kUOrouoNmU7w--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-04-22T093159Z_3_CBREA3K1M7V00_RTROPTP_2_USA.JPG" width="130" height="86" alt="William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference in Boston" align="left" title="William Ackman, CEO of Pershing Square Capital Management, speaks at the Partner Connect 2013 conference in Boston" border="0" /></a>By Svea Herbst-Bayliss, Rod Nickel and Olivia Oran BOSTON/NEW YORK (Reuters) - Activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to make a joint run at buying wrinkle-treatment maker Allergan Inc, according to security filings on Monday. The move to acquire Allergan, which is worth around $42 billion, is highly unusual as activist investors typically buy stakes and then agitate for strategic change, such as a sale of the company. One source familiar with their plans said it comes after Valeant tried for over a year to court Allergan but was turned away. Ackman and his $13 billion hedge fund, Pershing Square, have a long record in pushing companies to do his bidding, which could help Valeant buy Allergan.</p><br clear="all"/>

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