Legendary investor Carl Icahn just announced a new position in Allergan Pharmaceuticals.
Allergan has been very popular on Wall Street. Back in 2014 billionaire hedge fund manager Bill Ackman tried to team up with Valeant Pharmaceuticals to buy Allergan in a hostile takeover.
Here’s the full note on his site:
We have recently acquired a large position in Allergan and are very supportive of CEO Brent Saunders. We were instrumental in bringing Brent on board as the new CEO of Forest Labs a few years ago and worked cooperatively and constructively with him to help increase value for all Forest shareholders. Less than a year later Forest was acquired by Actavis (which subsequently merged with Allergan) resulting in massive gains for Forest shareholders. While we at that time disposed of our position in Forest, we still have always maintained great respect for Brent. We have every confidence in Brent’s ability to enhance value for all Allergan shareholders.