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Institutional Shareholder Services (ISS) Recommends Allergan Shareholders Call A Special Meeting Of Shareholders
Date:8/6/2014

areholder proposals covering the right to act by written consent and the separation of the roles of chairman and CEO."
  • Referring to the "rapid adoption" of a poison pill, Glass Lewis stated, "…the board has not indicated that shareholders will have any opportunity to ratify the rights plan during its duration or that any extension of the pill upon its expiration would require shareholder approval. As such, we consider these efforts generally more indicative of a board concerned with entrenching its position than seeking to enhance shareholder value."
  • "[W]e believe shareholders, as owners of the Company, should be provided a platform to express their views on certain significant matters not expected to be addressed through routine annual meeting channels. In the case of Allergan, access to such a platform is predicated on the satisfaction of an array of preconditions that, at the very least, are both disproportionately time consuming and dense.
  • * Permission to use quotations in this release neither sought nor obtained.

    Shareholders who have questions, or need assistance completing and returning the documents necessary to call a special meeting should contact Pershing Square's proxy solicitors, D.F. King & Co., Inc.

    For more information on the special meeting and to find copies of all documents needed to call the special meeting, please visit www.AdvancingAllergan.com.

    About Valeant Pharmaceuticals International, Inc.Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology  and branded generics. More information about Valeant can be found at www.valeant.com.

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    SOURCE Valeant Pharmaceuticals International, Inc.
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