1. Shareholder Adviser ISS Backs Ackman call for Allergan Meeting

    Shareholder Adviser ISS Backs Ackman call for Allergan Meeting

    (Reuters) - Institutional Shareholder Services (ISS) is backing activist investor Bill Ackman's call for a special meeting of Allergan Inc investors that could topple the company's board and increase the chances of a takeover by Valeant Pharmaceuticals International . ISS' recommendation on Wednesday follows a similar view from shareholder advisory firm Glass Lewis on Monday, giving Ackman's ...

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    1. The ISS Report should cause Allergan shareholders to question the credibility of a Board that is pursuing frivolous litigation tactics and baseless attacks to delay or stop the right for shareholders to fix anti-shareholder bylaws, elect shareholder-friendly directors and to voice their concerns about Allergan's poor corporate governance.
    2. These recommendations do not change the fact that Valeant`s offer is grossly inadequate, substantially undervalues Allergan, creates significant risks and uncertainties for Allergan stockholders and is not in the best interests of the company and its stockholders.
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