Bill Ackman's hedge fund firm Pershing Square Capital Management today filed an amended 13D with the SEC regarding their new stake in Allergan (AGN). Per the filing, Pershing Square notes early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act was amended and granted with respect to Pershing's shares.
As such, Pershing exercised their call options to purchase 24,831,107 shares of AGN. The purpose of this transaction was to acquire voting securities of the issuer.
Ackman has been working with Valeant Pharmaceuticals (VRX) to acquire AGN. Allergan, however, has apparently been exploring a sale to Sanofi as well as Johnson & Johnson, according to Bloomberg.
You can view other recent portfolio activity from Pershing Square here.
Friday, May 2, 2014
Pershing Square Exercises Allergan Options, Acquires Voting Securities
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