Botox

Bill Ackman is pretty good at waiting. He waited more than a year for JC Penney to see the light and hire the guy he wanted as CEO, and then another year-and-a-half for that guy to fail spectacularly and saddle him with a half-billion dollar loss. Speaking of half-billion dollar losses, he waited for more than a year for a power that is to start looking into his allegation that there’s something amiss at diet-shake distributor and distributor-recruiter Herbalife, and now he’s patiently waiting for one of them to shut it down.

So he’s happy to wait for a couple of months while the people who make Botox consider their options while protected by a poison pill. Just as long as the option they come down on is selling their company for $46 billion to his chosen buyer, or to someone else for a bunch more. Read more »

Ackman, who has teamed up with Canadian pharmaceutical company Valeant to launch a $45.6 billion takeover of Botox maker Allergan, warned drugmakers Tuesday that he plans to go on a little buying spree. “This is not the last deal we’re going to do,” he said. “We’re already talking about the next deal we’re going to do with Valeant.” “There are $10 trillion worth of targets,” said Ackman, referring to the combined market cap of the pharmaceutical industry. “I call this the shopping list.” [NYP]

Bill Ackman’s Boyish Visage To Be Preserved For Posterity

The Pershing Square Capital Management chief will never have to grow a beard to hide his frown lines if he can pull off his latest effort. Read more »

Since becoming Treasury Secretary, Tim Geithner has taken a whole lot of shit, from both the outside world and internally at work. His boss makes “jokes” in public about dogs pissing on him, chief executives openly speak of his uselessness and hardly a day goes by without a story claiming he’s getting fired and replaced by (take your pick) Jamie Dimon, Mike Bloomberg, or Jojo the idiot circus boy. Basically, his tenure in Washington has become one long blow of the sad trombone. TG has taken most of it in stride but guess what, people? The jabs? They add up. And today’s, courtesy of Bloomberg BusinessWeek, just might be the one that pushes him over the edge and by over the edge, we mean into a plastic surgeon’s office. Read more »