New pharmaceutical acquisition in sight: An unusual alliance between hedge fund manager William Ackman and the company Valeant Pharmaceutical International has targeted Allergan, known for the anti-wrinkle treatment Botox. A merger, the possibility of which was reported by the Wall Street Journal, would unite two medium-sized pharmaceutical companies but would still be an operation worth tens of billions of dollars: both have market capitalizations of around 40 billion.
According to rumors, Ackman has already acquired a 10% stake in Allergan, valued at 4 billion, through his Pershing Square fund, his largest investment ever. The offer under consideration -- worth $45,6 billion -- would be partly in cash and partly in Valeant stock, with Ackman retaining a major stake in the combined company. The new rumors of mergers and consolidation of the sector come after the news that the giant Pfizer is interested in the British Astra Zeneca, an operation worth over one hundred billion dollars.
