June 13 William Ackman's Pershing Square Capital
Management said it had filed a lawsuit seeking confirmation that
a requested special shareholder meeting of Allergan Inc's
shareholders would not trigger Allergan's poison pill
The Botox maker has rejected a $53 billion joint offer from
Ackman and Canadian drugmaker Valeant Pharmaceuticals
Allergan said in April that its board had adopted a one-year
shareholder rights plan to give it more time to consider
Allergan's shareholder rights plan will trigger if a person
or group acquires 10 percent or more of its shares.
The lawsuit filed in Delaware Court of Chancery followed a
request to Allergan from Pershing Square on June 6 seeking
confirmation that Allergan would not use its poison pill to
impede Ackman's request for a special meeting.
A response from Allergan's counsel on Thursday did not
provide that confirmation, Pershing Square said.
Allergan rejected a sweetened offer from Valeant and the
activist investor on Tuesday.
(Reporting by Natalie Grover and Sweta Singh; Editing by Ted