It's great that Allergan escapes a hostile merger/takeover with Valeant, but the outcome doesn't quite seem fair, does it? Arguably, Allergan suffers no damages. But what of the shareholders who sold shares to Bill Ackman not having his "insider" base of knowledge? Not surprisingly Ackman's attitude is "I'll Take The $2 Billion And Thank You." That's probably how I'd feel too…
Picture via Business Insider
Bill Ackman Just Perfectly Executed The 'Heads I Win, Tails You Lose' Trick That Makes Wall Street Famous
By LINETTE LOPEZ, Business Insider
For months Bill Ackman has been pushing the pharmaceutical company Allergan to submit to a hostile takeover by fellow pharma company Valeant.
Ackman owns almost 10% of Allergan, and almost 40% of his hedge fund Pershing Square is in the company.
But now the deal Ackman was pushing for is over, as Allergan will merge with another company, Actavis, in a $66 billion deal.
The effort that Ackman undertook by purchasing Allergan shares back in February has been thwarted.
And after everything that happened — three bids for Allergan, multiple court appearances, accusations of insider trading — you would think that Bill Ackman might be having a rough Monday morning.
But no. No way. As the deal Ackman pushed for fell apart, he also collected $2.28 billion.
Keep reading Bill Ackman & Valeant Are Perfect Partners – Business Insider.
