Bill Ackman Supports The Allergan-Actavis Deal And CEO Brent Saunders

It seems Bill Ackman and Allergan, Inc. AGN are finally experiencing closure.

About to make a hefty profit from Allergan’s merger with Actavis plc ACT, Ackman is now in no mood for any more friction. However, Allergan’s Board, which is pursuing insider trading litigation against Ackman, might not have the same view.

As CNBC’s David Faber recently reported, Ackman won’t be present in the special meeting on December 18th where Actavis shareholders can vote on new Directors.

“Mr. Ackman is telling Scott [Wapner] that he will withdraw from that special meeting that has been called for December 18th. In other words, there will potentially be no longer a need for a special meeting on December 18^th, which there is an opportunity for Allergan shareholders to vote on Directors to replace the existing board,” Faber said.

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Faber highlighted that Ackman told Scott Wapner that he is a supporter of the Allergan-Actavis deal and Actavis CEO, Brent Saunders. Faber also revealed that Ackman will be meeting the management of Actavis for the purposes of due diligence, and perhaps, he'll become a long-term shareholder after the deal goes through.

According to Faber, Ackman would be walking away with a significant profit from the deal. Fifteen percent, or around $350 million, will go to Valeant Pharmaceuticals Intl Inc VRX.

He also highlighted that yesterday, Allergan’s CEO reiterated the company will continue to pursue its litigation against Ackman and his firm for insider trading.