So what if his dream of forcing Allergan to settle for Valeant is very much on the rocks? If the Pershing Square chief has proven nothing else, it is that he will make money no matter what happens during this calendar year. Let Allergan take Actavis’ $60+ billion—Bill Ackman gets 10% of it. And then he can sell the company that his old buddy told him to invest in to Valeant.
The duo gave Zoetis the code name “Superman” while building their stakes. That suggests they think the investment will be able to fly high.
Code Name ‘Superman’: Details on Ackman’s Zoetis Position Revealed [WSJ MoneyBeat blog]
Actavis in Talks to Acquire Allergan for Over $60 Billion [Bloomberg]