Re: The Beginning of the Endgame
From my Post Saturday night:
Well, it took no longer than 5AM Monday for that response to be published, and even filed with the SEC.
The Board of Directors of Allergan, Inc. (AGN) (“Allergan” or the “Company”) today issued the following statement:
There has recently been significant and potentially distracting market speculation regarding Allergan, so, as the Company’s Board of Directors, we think it is important to reiterate our unanimous perspective. Our conclusion that Valeant’s offer is grossly inadequate and substantially undervalues Allergan remains unchanged. ...
(I guess they like the word 'speculation' better than 'rumor')
The use of a singular (speculation, not speculations); is intended to emphasize that it is one very specific 'speculation' (imminent deal to buy Salix) that they are talking about, rather than the general rumor-mill of the week.
While Allergan hasn't tied it's own hands by an outright denial of the 'speculation,' it would be hard to make an announcement confirming the accuracy of the 'speculation' immediately after telling everyone not to be distracted by it.
Dan.
