Strategy shift? Allergan's new bylaws, Pershing's Zoetis stake, Valeant's silence
This article was originally published in Scrip
In the Pershing Square Capital Management-backed attempt by Valeant Pharmaceuticals to purchase Allergan, the acquisition target may be the only one with a clear strategy: avoid a Valeant buyout at all costs unless a more attractive offer – potentially from Actavis – comes along.
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