Don't hold your breath waiting for AGN to make a deal!

http://blogs.wsj.com/moneybeat/2014/09/18/dealpolitik-allergan-fight-could-extend-long-past-december-meeting/

 

Yes, it won't be surprising if Ackman and the shareholders will need to head back to the courts (Delaware) to get a new board of directors not controlled by Pyott. But patience will eventually pay off.

 

If nothing much comes out of Dec 18th meeting then will we wait till next general meeting in may 2015?

 

They're NEVER going to get their hand-picked board. Valeant should just give up now and Ackman should crawl back under his rock before the Feds catch up with him.

 

The legacy board members will elect "their" desired people- NOT ACKMAN. Got news for ya!

 

Another Allergan bylaw that will be challenged in court once the current board is removed. I expect the judge's remedy will be to have the shareholders elect their own board members.

See today's WSJ's article ( Allergan-Valeant Fight Holds Lessons for All Corporate Shareholders ) to understand why Allergan settled on their challenge to the calling of the shareholders meeting. It's a "Horse choker".

 

As it should be (a horse choker) so roll up, fraud companies like Valeant and guys like Ackman don't stand a chance!

 

http://dealbook.nytimes.com/2014/09/18/allergan-valeant-fight-holds-lessons-for-all-corporate-shareholders/

“This is quite a horse-choker of a bylaw. And tell me what the defense to that is,” Chancellor Andre G. Bouchard of the Delaware Chancery Court skeptically said to Allergan’s lawyer last week.

Those comments probably pushed Allergan to settle the Delaware litigation involving hostile bidders — the drug firm Valeant Pharmaceuticals and the hedge fund Pershing Square Capital Management — thus allowing a special meeting called by Pershing Square to unseat a majority of Allergan’s directors to proceed on Dec. 18. These words also show perhaps that the rush to defeat microagressions by activists may sometimes be a dubious corporate defense.

 

What you neglect to mention is that 12/18 is the date agn wanted for the meeting.