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Ackman Says Allergan CEO Has Conflict Of Interest On Takeover Offer

5 years ago|14 views
Activist investor William Ackman said on Monday that Allergan Incorporated's chief executive has a "disabling" conflict of interest because accepting a takeover by Valeant Pharmaceuticals International likely means he would lose his job. Ackman and Montreal-based Valeant launched a $47 billion takeover of the company on April 22, but Allergan rejected the offer on May 12 and has not budged since. Allergan Chief Executive Officer David Pyott is urging shareholders to let the company stand alone.