M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Tuesday, July 1, 2014

Allergan pill suit settled

Late last week Pershing Square settled is suit with Allergan over Alergan's poison pill.  The settlement permits Pershing Square to put together a group of shareholders sufficient to call a special meeting without triggering the pill.  Pershing Square, with 9;7% of Allergan, was worried that if it got the support of the required 25% of shareholders sufficient to call a meeting that it would trigger Allergan's poison pill with its 10% trigger.  The settlement will allow Pershing Square to get the support to call the meeting with triggering the pill. 

You can download the stipulation/settlment agreement here.



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