Re: Ackman letter It's doubtful that Bill Ackman's letter to the Allergan board will accomplish anything. David Pyott (AGN CEO ) is playing for time. Ackman and other larger shareholders like John Paulson will need to replace the board.
Paulson inferred that in his opinion Allergan would have to buy another company to be able to successfully fight off Valeant's hostile bid. Perhaps he missed Mr. Pyott stating just that last week on CNBC.
If the special meeting to elect a new board ever get called, buying something, anything, would be a way to kill the deal. It's a trump card.
