Thanks to a White Knight, Bill Ackman’s Allergan activist campaign ends with $2.5 billion profit
|January 19th, 2015||
|Is it really an honest day of work, when your hedge fund rakes in a $2.5 billion dollar profit, on an investment bet that gained on average $12 million dollars a day? That is a question posed to activist hedge fund manager Bill Ackman, of the Pershing Square Capital hedge fund who tried to partner with Valeant Pharmaceuticals to takeover Allergan PLC, the producer of Botox. |
Never mind Ackman’s attempts to purchase Allergan were turned down numerous times. According to the New York Post, Ackman took it upon himself to fly around the country to stir up the shareholders, persuading them to abandon most of their board members.
Notably, Pershing Square is currently ranked #2 spot on the Top 75 Healthcare and Biotech Hedge Fund list, while also holding the #3 spot on the Top Activist Hedge Fund list
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