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Ackman says Allergan holders back takeover at $180/shr: CNBC

June 9, 2014

By Caroline Humer and Franklin Paul

(Reuters) – Activist investor William Ackman on Monday defended Valeant Pharmaceuticals during an interview on CNBC television and said that Allergan Inc shareholders told him they would support a deal at $180 per share.

Ackman, who said that Valeant was a company in the model of esteemed investor Warren Buffett’s Berkshire Hathaway Inc rather than Tyco Inc, said that he met with Allergan’s large shareholders before Valeant raised its bid to about that level on May 30.

Ackman, who owns almost 10 percent of Allergan, and Valeant are in the midst of a hostile takeover battle. Allergan rejected the first offer and has not responded to the second or third sweetened bids. This is Ackman’s first public appearance regarding the takeover attempt since it was announced in April.

(Reporting by Caroline Humer, Editing by Franklin Paul)

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