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April 23 The chief executive officer of Valeant
Pharmaceuticals, which made a $47 billion unsolicited
offer for competitor Allergan Inc on Tuesday, said
during an interview on CNBC that he was "disappointed" with
Allergan's so-called poison pill.
Allergan on Tuesday night said its board of directors had
adopted a one-year stockholder rights plan to give it more time
to consider takeover proposals. The Valeant offer was made with
Pershing Square Capital Management hedge fund, which built up a
stake in the company.
"We are disappointed but on the other hand, I think this
deal will get done," Valeant CEO Michael Pearson said on
(Reporting by Caroline Humer; Editing by Chizu Nomiyama)