Sard Verbinnen & Co and Rubenstein Assocs. handle the ground-breaking $46B hostile takeover of Allergan, which is noted for Botox.
The bid by activist investor Bill Ackmann and serial acquirer Valeant Pharmaceuticals of Canada earned the lead in today’s Wall Street Journal, which reported the bid as an “unorthodox alliance.”
The paper noted that investors such as Ackman typically don’t seek a partner prior to a move on a company.
The “strange bedfellows” represent “an unusual crack in the typically sturdy wall between activists and companies,” according to the paper.
Valeant registered $5.8B in 2013 revenues. It competes with Allergan ($6.3B in sales)in the global eye care and cosmetic-treatment markets.
The owner of Bausch & Lomb already has a 10 percent in its target. Valeant believes a successful takeover would generate $2.5B in cost savings.
Allergan, which has rebuffed Valeant in the past, is reviewing the unsolicited proposal. Joele Frank, Wilkinson Brimmer Katcher is handling its media.
SV&C’s Renee Soto and Meghan Gavigan work Valeant’s PR, while Rubenstein’s Carolyn Sargent represents Ackman’s Pershing Square Capital Management investment vehicle.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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