June 9 Activist investor William Ackman on
Monday defended Valeant Pharmaceuticals during an
interview on CNBC television and said that Allergan Inc
shareholders told him they would support a deal at $180 per
Ackman, who said that Valeant was a company in the model of
esteemed investor Warren Buffett's Berkshire Hathaway Inc rather
than Tyco Inc, said that he met with Allergan's large
shareholders before Valeant raised its bid to about that level
on May 30.
Ackman, who owns almost 10 percent of Allergan, and Valeant
are in the midst of a hostile takeover battle. Allergan rejected
the first offer and has not responded to the second or third
sweetened bids. This is Ackman's first public appearance
regarding the takeover attempt since it was announced in April.
(Reporting by Caroline Humer, Editing by Franklin Paul)