Known as one of the most headstrong investors on Wall Street, activist investor William A. Ackman announced a joint bid with pharmaceutical company Valeant to acquire Botox maker Allergan in a $50 billion deal, say reports.
If successful, the transaction could usher in a new era for how acquisitions are made, reports say. The proposed deal is the first of its kind.
Ackman has slowly been acquiring Allergan shares through his Pershing Square Capital Management. Canada-based Valeant has reportedly agreed to pursue a takeover and contributed $76 million to Pershing Square’s PS Fund 1, according to regulatory filings.
The joint pursuit of an investor and corporation could signal change in how the two groups work together, reports say, but also raises some concern over conflicts of interest.
Full Content: DealBook
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI