Pershing Square Capital Management, L.P. (“Pershing Square”), the largest
shareholder of Allergan, Inc. AGN (“Allergan”), announced that on
Friday it submitted to Allergan additional special meeting requests from
shareholders owning approximately 0.6% of Allergan's shares. With these
requests, Pershing Square has delivered requests from 51 institutions
representing 35.68% of the outstanding common stock of Allergan.
At the special meeting, Allergan shareholders will have the opportunity to
voice their support for a number of critical matters, including the removal of
six incumbent members of the Allergan board, the appointment of an independent
slate of directors, amendments to Allergan's bylaws to eliminate onerous
restrictions on the calling of a special meeting, a request that Allergan
engage in negotiations with Valeant Pharmaceuticals International, Inc.
VRX (“Valeant”) and Pershing Square, and certain other actions to
improve corporate governance of Allergan.
To learn more about the special meeting and the Pershing Square and Valeant
bid for Allergan, as well as related court cases in the Delaware Court of
Chancery and the U.S. District Court Central District of California, please go
to http://advancingallergan.com/.
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