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Carl Icahn's New Stake In Allergan

Carl Icahn's New Stake In Allergan

The billionaire investor confirmed through his Twitter account that he has acquired a "large position" in Allergan plc Ordinary Shares (NYSE: AGN).

Shares of Allergan were trading higher by more than 2.5 percent after Tuesday's opening bell. Icahn also said in a statement is he is "very supportive" of the company's CEO Brent Saunders.

Icahn's investment in Allergan doesn't mark the first time he has cooperated with Saunders.

Icahn helped bring in Saunders as CEO of Forest Labs and the two " worked cooperatively and constructively" to "increase value for all Forest shareholders." Forest was ultimately acquired by Actavis, which subsequently merged with Allergan.

"We have every confidence in Brent's ability to enhance value for all Allergan shareholders," Icahn's statement said.


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Posted-In: Allergan Brent Saunders Carl Icahn Forest Labs pharmaceutical companiesNews Hedge Funds General Best of Benzinga

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