Allergan agrees to a $66 billion takeover bid from Actavis, thwarting a hostile takeover bid by Valeant Pharmaceuticals and William Ackman's Pershing Square Capital Management.
Allergan is close to sealing a deal worth nearly $66 billion with Actavis and giving the slip to a hostile takeover bid from Valeant Pharmaceuticals and William Ackman's Pershing Square hedge fund.
Capricor Therapeutics acquires Medtronic's patent rights for the formulation and delivery of natriuretic peptides to treat heart failure.
Capricor Therapeutics said it acquired Medtronic's (NYSE:MDT) patent rights for the formulation and delivery of natriuretic peptides.
Allergan backed out of a deal to merger with Salix Pharmaceuticals, which would have likely stymied Valeant's hostile takeover, after it found out that Salix has enough inventory to last months, not weeks.
Allergan confirms it's in talks with a 3rd-party buyer, said to be Actavis, in the run up to a December showdown with hostile takeover bidders Valeant Pharmaceuticals and Pershing Square Capital Management.
A federal judge in California rules that hedge fund mogul William Ackman's Pershing Square Capital Management and Valeant Pharmaceuticals may get their vote at a special meeting of Allergan shareholders slated for next month.
Ackman (Reuters/Eduardo Munoz).
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