AGN lead director responds to letter from Pershing Square

|By:, SA News Editor

In a terse response to Bill Ackman's letter, Allergan (AGN -0.2%) lead director Michael Gallagher writes, "The BOD strongly disagrees wtih your statements and tactics including your blatant attempt to isolate David Pyott, who has created enormous value for the Allergan stockholders and who is keenly focused on the best interests of all stockholders. The entire Board of Directors, including David Pyott, is open to all options that will significantly enhance the long-term value of Allergan for all stockholders."

It seems fair to assume Mr. Ackman won't be a dinner guest of Mr. Pyott's any time soon.

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