Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Allergan Shares Explode On Report Of Bill Ackman Takeover Plan

Julia La RocheApr 22, 2014, 01:59 IST

Reuters/ Jack Cusano

Shares of pharmaceutical company Allergan are exploding in the after hours session.

The stock (AGN) is up more than 19%.

Dow Jones is reporting via CNBC that activist investor Bill Ackman of Pershing Square is partnering with Valeant Pharmaceuticals to pursue a takeover.

According to Dow Jones, Ackman has built a 10% stake in the company.

Shares of Valeant were up about 9% in the after-hours session.

Here's the chart of today's trading activity:

Yahoo! Finance