"picked on"? We are trying to buy a company. But rather than negotiate, the Allergan CEO engages in market manipulation of Valeant stock. Once their board is replaced with responsible people, we make our best offer. This is what Allergan shareholders want.
Ha, ha, ha. Sun Tsu would say the easiest and most efficient way to victory is to allow your enemy to crumble from within. PS1 is being managed to their last breath. Cheers
1.) Nobody really buys the Allergan market manipulation theory, not even Ackman. And if there is to be a discussion about market manipulation, we need to go back to the Granddaddy of them all in this saga, which is the unethical and perhaps (will-be-ruled) illegal market manipulation done by Ackman and Pearson and the PS 1 Fund to roll up AGN stock without alerting the SEC. 2.) There will be a long, lllonnggggg wait until Valeant and Pershing Square load the Allergan Board with their "responsible people", the same responsible people who plan to throw Allergan's long-term research projects and future gains under the wheels of Pearson's Valeant-paid/US taxpayer written-off $65,000,000 private jet. Remember, the Dec 18 shareholder meeting only gets to potentially vote current Allergan directors off the island. It does not get to vote in the Ackman Politburo. This nightmare will continue well into 2015. The "best offer" from an Ackman/Pearson board will massively undervalue Allergan's assets; they have no reason to pay full freight for a company they plan to significantly gut upon acquisition. 3.) "This is what the shareholders want." No, they do not. There is a wide universe of Allergan shareholders, and stakeholders as well, beyond the activist, short-term hedge funds (and that includes T.Rowe Price which is functioning as a hedge fund). And these Allergan shareholders and stakeholders are well in agreement that Valeant management of Allergan assets would be devastating to the community from which they have built their longlasting trust.
The share holders will decide. Share holders want the short term gains so they can buy companies that do not have this drama around it. Sell Allergan stock to the highest bidder and then buy a good company like Tesla, Apple, or Corning. Why stick around. Put out a for sale sign to bring in more bidders. Maybe a half-way ethical company will join the bidding.
