Look, he didn't even get enough shares tendered. Only 12 million shares by this mornings deadline. Poor dear, he had to extend the deadline. He is losing this, if he hasn't already lost it. VRX are going nowhere with this deal. Ackman has made his money. Doesn't mean he will move on of course. Plenty more money to be made from AGN.
I hope you are right but you are wrong. CNBC reported this morning Ackman already got 30% support. This is a war, not a beauty contest. you have to be take it very seriously to do everything necessary. As i said, even Valeant backs out, Ackman will stay here long enough looking for a chance to put allergan on sale.
Running a solid business in the knowledge that you have almost all the time in the world is the way to go. Pyott is focused on running a company, not a pr campaign that he does not need. There is no shareholder meeting, there is no 25%, there is nothing except stellar performance and outstanding guidance from a company that has always hit its targets and on the otherwise a company and hedge fund guy making noise because they are getting nowhere. They have accounts over which many questions remain unanswered, and these questions have been hanging around long before the AGN offer. This is also a company with massive debts, junk status and terrible downward lay revised guidance who have many investigations and lawsuits for illegal activity hanging over them.
No, Pyott doesn't need to be distracted by smoke and mirrors. He is doing a fantastic job as it is and he should continue so to do.
So far it is non existed and very disappointing. But they still have time. Mr. Pyott need to take more interviews from media, maybe write articles to newspaper, to explain a stand alone allergan not just great assets of its shareholders, but also belongs to entire society. Valeant and its backers are running a blatant scheme to steal real productive assets and transfer wealth to their own pockets. This can only be stopped by government intervention. So far Allergan's strategy is solely focused on maximizing shareholders' value to make it unaffordable to Valeant. this is too passive from my point of view, even they evade Valeant this time, in the future they are still very vulnerable for another takeover, especially Bill Ackaman is not going anywhere soon. Mr. Pyott needs public support and political help, talking to shareholders and filing investor presentation is not going to do it.
This supposed non corrupt deal or just Valeant's obscure accounting. No defense for any of it.
They are expected to act in good faith to promote the success of the corporation.
The corporation IS the stockholders and when the value can double in one transaction then failure to do that transaction is working against the interests of the corporation and by extension the stockholder.
Like it or not , as i have been saying - a bunch of hedge funds are now in AGN based on 13-f filings released today They are not in it for the long haul. But they are shareholders with a vote. Hot money. FACT
Per the WSJ: "Federal securities laws prohibit anyone with advance knowledge of an impending tender offer from buying up shares of the intended target. The rule is meant to protect companies from being blindsided by a hostile buyer on one side and prepositioned allies within shareholder ranks on the other."
That is EXACTLY, EXACTLY what happened. ILLLEGAL.
Sentiment: Strong Buy
Like I said before, Insider Trading. Just two weeks PRIOR to the PUBLIC annoucnement of a hostile takeover, Paulson bought a million VRX shares. Then of course he bought Allergan shares and was for a hostile takeover- to manipulate his VRX stock (for his gain from his insider trading info). Paulson should be added to the SEC's Insider Trading investigation. Tired of all of this BS. Wall Street continues to act corrupt to the detriment of our markets, our economy, and our country. Enough is enough.
Sentiment: Strong Buy
Setting aside your pathetic lack of logic, I will also point out that the word is company's, not "companies".
I didn't want you to dwell in your intellectual deficiency.
Yes, trying to make money through insider trading is illegal. Who is the child now?
AGN board must decide who has the companies best interests at heart. Their job is to protect it. If you don't understand this you are intellectually deficient. Ackman is trying to destroy AGN for his own gain. He is occupying a Trojanhorse being a shareholder. The AGN directors are acting in the best interests of the company.
Pearson saying they knew all along they would need to go to the shareholders certainly does not help their cause. There are also two sides to the potential outcome. They could look at Pearsons admission and conclude it contravenes the rules. They could also look to when the rule was written and realise that, back then, all offers were tender offers which means that any offer now goes against the spirit of the rule.
Valeant and Pershing knew this would go hostile all along, therefore their maneuvers to accumulate AGN shares constitutes insider trading. It not only breaks the spirit of the law, it also actually breaks the law. I hope the judge in the court case and the SEC do what is right and protect our markets.
Sentiment: Strong Buy
As long as PeaAck are being investigated, AGN can continue to deny the request for a special meeting as per their bylaws. Bummer, dude...
GTHCGD...I hope you're right about Ackman not doing any wrong. I do think that Ackman is too smart to get into trouble, however, lawyers & judges aren't always so clean themselves. This has become a circus...."he said.....he said" I guess AGN likes a performance. I don't feel as positive as you that VRX will get AGN because of all the dialogue, the disputes, & attacks. It's gotten so ridiculous. VRX should have bowed out, earlier in the game, then attain another acquisition.