March 17, 2017 / 12:36 AM / in 9 months

BUZZ-Valeant Pharmaceuticals: ValueAct raises stake in company

** Canadian drugmaker’s U.S.-listed shares up 3.84 pct at $11.63 after market

** Hedge fund ValueAct Holdings LP raises its stake to 5.2 percent in Valeant, calling the drugmaker's shares "undervalued" and saying it intends to continue to discuss with the company to "enhance shareholder value" (bit.ly/2m6ZHau)

** ValueAct said its discussions with Valeant would also include financial condition, mergers and acquisitions strategy and overall business strategy

** Up to Wednesday’s close, stock had fallen 67 pct in the last 12 months

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