Paulson Builds Stake in Allergan; Supports Valeant

The heat is being applied to Allergan, Inc. (NYSE:AGN) by a hedge fund executive other than Pershing Square’s William Ackman. Reuters is reporting that John Paulson is among the top 15 holders of Allergan stock.

Paulson has built an exposure to Allergan

Paulson’s hedge fund, Paulson & Company, has build an exposure to Allergan, Inc. (NYSE:AGN) of more than six million shares – shares it plans to vote in favor of an unsolicited buyout offer from Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX), Reuters is reporting, citing “people familiar with the matter.”

At issue is a vote to replace the existing Allergan, Inc. (NYSE:AGN) board with board members favoring a deal with Allergan....