June 4, 2014
Allergan: The Suspense Builds
On Monday, as noted in this article from “The Deal,” Bill Ackman abandoned his unorthodox referendum approach to have shareholders vote at a meeting set up outside of Allergan’s bylaws on a nonbinding proposal that would urge Allergan’s board to engage in “good faith” negotiations with Valeant – and instead is now waging a traditional proxy contest. Here are articles about Ackman’s initial approach:
– WSJ’s “Lawmaker Raises Concerns to SEC About Ackman’s Allergan Referendum”
– Representative Royce’s Letter to SEC asking for review of the innovative Pershing Square plan
– The Activist Investor’s “Annals of Investor Relations: What CEOs Really Think of Investors”
– DealBook’s “In Allergan Bid, a Question of Insider Trading”
– The Activist Investor’s “A Shareholder “Get Together”
– The Deal’s “Ackman pushes unorthodox shareholder proposal”