Bill Ackman And Valeant Boost Their Offer For Botox-Maker Allergan Again
REUTERS/Eduardo Munoz William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks at the Sohn Investment Conference in New York, May 5, 2014. Activist investor Ackman said on Monday that he recommends the shares of mortgage finance giants Fannie Mae and Freddie Mac because the companies have low liquidity risk. 
The latest offer includes $72 per share in cash and 0.83 shares of Valeant for each share of Allergan owned by Allergan shareholders.
On May 28, Valeant raised the cash portion of its bid for Allergan by $10 per share. Valeant and Ackman also held a lengthy webcast outlining the merits of their deal.
Allergan has previously rejected Valeant's overtures, formally rejecting the first offer on May 12.
On May 27, Allergan filed a presentation outlining its concerns regarding Valeant's business model.
More to come...
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