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Frustrated shareholders berate Allergan for 'unnecessary restrictions' on special meeting

This article was originally published in Scrip

Executive Summary

In an epic three hour rant, Allergan's majority shareholder Pershing Square Capital expressed its frustrations about the company's corporate governance to an audience of investors, with the aim of persuading them to support Valeant's $54bn hostile takeover bid. Pershing was particularly put out about what it said were "unnecessary restrictions" put in place by Allergan to calling a special meeting.

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