Appaloosa gets permission for activist stance with Allergan stake [Reuters]
ALLERGAN INC (AGN)
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Source: Reuters
Appaloosa gets permission for activist stance with Allergan stake | Reuters Reuters Staff 2 Min Read NEW YORK (Reuters) - David Tepper’s Appaloosa Management and two of his funds received Federal Trade Commission clearance earlier this week that could clear the way for the billionaire to become an activist investor in drugmaker Allergan Plc. Tepper received the Hart-Scott-Rodino anti-trust clearances on Wednesday, according to the FTC’s website. Wells Fargo analyst David Maris said in a research note that Allergan “indicated this clearance provides flexibility to the filer as to whether they want take an activist approach to the investment or not.” Tepper’s Appaloosa LP increased its stake in Allergan to 3.7 million shares from around 3.5 million shares over the last quarter, the firm said in a filing with the Securities and Exchange Commission on Tuesday. “Allergan welcomes all investments in our company,” spokeswoman Amy Rose said, when asked about the clearances. Appaloosa was not
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