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