Valeant calls its shareholders to a special meeting

Wed Jun 25, 2014 8:19am EDT
 
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June 25 (Reuters) - Valeant Pharmaceuticals International on Wednesday said it had called a special meeting for its shareholders to approve the issuance of new shares, another step in its pursuit of Botox maker Allergan Inc .

Valeant's multiple offers for Allergan have been rebuffed and the company is proceeding with a hostile takeover. It has taken its $53 billion offer, made jointly with Pershing Square Capital Management head William Ackman, directly to shareholders through a separate proxy solicitation to Allergan investors.

(Reporting by Caroline Humer)