Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Allergan, Inc. (AGN) Is Going to Have a Special Shareholders’ Meeting

CNBC‘s David Faber delivered the news that Allergan, Inc. (NYSE:AGN) is going to have a special shareholders’ meeting on December 18th. This comes along with the news that another 2.8%, making a total of 33.8%, of the company’s shareholders have sent their consent regarding the assembly.

Allergan, Inc. (NYSE:AGN)

The health care company is expected to approve the meeting in the next couple of days, provided that paperwork related to assents has been properly done and no mistakes or errors have been made. So far, Allergan, Inc. (NYSE:AGN) is not expected to be extremely picky while strolling through the documentation, due to more important issues being able to affect the company. In particular, the allegations and of insider trading by Bill Ackman and Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are to be one particular point of interest for the shareholder’s meeting.

“It does appear that we’ve got about three more months to run here, in which, of course, we’ll continue to have a great deal of questions being raised by Allergan about Valeant’s strategy, its organic growth rate. You’re going to get another earnings report from Valeant and, importantly, we’re going to continue to listen and see whether Allergan decides to pursue an acquisition,” stated David Faber.

Despite many rumors, nothing is actually imminent regarding the case. It is not even proven that Mr. Ackman engaged in insider trading.

Earlier this summer Allergan, Inc. (NYSE:AGN) rejected a takeover proposal from Valeant Pharmaceuticals Intl Inc (NYSE:VRX) of about $53 billion. Mr. Ackman, whose fund,  Pershing Square Capital Management LP, owns 9.4% of Allergan tried everything to sweeten the proposal and finish the transaction. But, Allergan, Inc. (NYSE:AGN) argued that the offer substantially undervalued its price and presented major risks and uncertainties to shareholders. Ackman’s final interest seems to be a big stake in Valeant Pharmaceuticals Intl Inc (NYSE:VRX), it ultimately made the billionaire to favor so energetically the acquisition, however, there’s a lot to be done for his master plan to actually work.

Disclosure: none

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!