M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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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.

-bjmq

http://lawprofessors.typepad.com/mergers/2014/07/allergan-pill-suit-settled.html

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