Valeant CEO 'delighted' by Paulson's Allergan stake

Thu Jun 26, 2014 12:46pm EDT
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June 26 (Reuters) - Valeant Pharmaceuticals Inc Chief Executive Officer Michael Pearson said on Thursday that he is "delighted" hedge fund Paulson & Co has amassed a large stake in takeover target Allergan Inc, and believes Valeant will garner enough support to trigger a special meeting of Allergan's board.

Reuters reported exclusively on Wednesday that Paulson had built a stake in Allergan of more than 6 million shares and supports a deal between the Botox maker and Valeant.

(Reporting by Rod Nickel in Winnipeg, Manitoba)