It was just announced that Allergan will eliminate 1500 jobs/13% of their global workforce. They are trying anything to avoid a Valeant takeover!
“We do believe that the restructuring plan should incrementally help persuade [Allergan] shareholders to vote for the company’s independence; however, this doesn’t necessarily mean the stock is going to increase notably today,” Goodman said in his briefing with investors. “The more it looks like the deal won’t happen, the more the arbs are likely to be selling today. Hence, don’t be surprised if the stock acts differently than you think.”
Capital Research has sold most of their AGN holdings http://online.wsj.com/articles/large-allergan-investor-sells-most-of-stake-1405915543
Capital research has owned/sold AGN stock for many years. Don't be alarmed if they jump back in and buy abunch again. This is non-news!