Allergan: Pershing Square submits additional special meeting requests representing 35% of AGN Shares; requests exceed 25% threshold excluding Pershing Square’s 9.7% stake and do not include an additional 4% that requesting shareholders could not submit due to onerous bylaws
Co announced that it has submitted additional special meeting requests from shareholders owning 1.29% of Allergan's shares, bringing the total to 35.1%. Not including Pershing Square, shareholders owning over 25% of Allergan's shares have now provided the necessary documentation and cleared the administrative hurdles in Allergan's bylaws to join Pershing Square in calling for the special meeting.
- While the company has set a December 18 meeting date, it continues to attempt to delay or stop the meeting by pursuing spurious litigation against Pershing Square and Valeant Pharmaceuticals International (VRX).