SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13d-2(a)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 7)*
Allergan, Inc.
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
018490102
(CUSIP Number)
Valeant Pharmaceuticals International, Inc.
Robert R. Chai-Onn
2150 St. Elzéar Blvd. West
Laval, Quebec
Canada, H7L 4A8
(514) 744-6792
With a copy to:
Alison S. Ressler
Sullivan & Cromwell LLP
1888 Century Park East
Los Angeles, California 90067-1725
(310) 712-6600
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 16, 2014
(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this Schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ].
Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 018490102 |
1. | NAME OF REPORTING PERSON
Valeant Pharmaceuticals International, Inc. | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions): (a) x (b) ¨
| |||||
3. | SEC Use Only
| |||||
4. | SOURCE OF FUNDS (see instructions)
AF, WC | |||||
5. | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION
British Columbia, Canada | |||||
Number Of Shares Beneficially Owned By Each Reporting Person With
|
7. | SOLE VOTING POWER
100 | ||||
8. | SHARED VOTING POWER
28,878,538 | |||||
9. | SOLE DISPOSITIVE POWER
100 | |||||
10. | SHARED DISPOSITIVE POWER
597,431 | |||||
11. |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,878,638 | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) ¨
| |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7% 1 | |||||
14. | TYPE OF REPORTING PERSON (see instructions)
HC |
(1) This calculation is based on 297,183,809 shares of Common Stock, par value $0.01 per share (the Common Stock), of Allergan, Inc. (the Issuer) outstanding as of July 31, 2014 as reported in the Issuers Quarterly Report on Form 10-Q filed on August 5, 2014.
CUSIP No. 018490102 |
1. | NAME OF REPORTING PERSON
Valeant Pharmaceuticals International | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions): (a) x (b) ¨
| |||||
3. | SEC Use Only
| |||||
4. | SOURCE OF FUNDS (see instructions)
WC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) ¨
| |||||
6. | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware | |||||
Number Of Shares Beneficially Owned By Each Reporting Person With
|
7. | SOLE VOTING POWER
-0- | ||||
8. | SHARED VOTING POWER
28,878,538 | |||||
9. | SOLE DISPOSITIVE POWER
-0- | |||||
10. | SHARED DISPOSITIVE POWER
597,431 | |||||
11. |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,878,638 | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions) ¨
| |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7% 1 | |||||
14. | TYPE OF REPORTING PERSON (see instructions)
CO |
(1) This calculation is based on 297,183,809 shares of Common Stock, par value $0.01 per share (the Common Stock), of Allergan, Inc. (the Issuer) outstanding as of July 31, 2014 as reported in the Issuers Quarterly Report on Form 10-Q filed on August 5, 2014.
This Amendment No. 7 relates to the Schedule 13D filed on April 21, 2014, as amended prior to the date of this Amendment No. 7 (as so amended, the Original 13D), by Valeant Pharmaceuticals International, Inc., a corporation continued under the laws of British Columbia (Valeant), and Valeant Pharmaceuticals International, a Delaware corporation and a wholly owned subsidiary of Valeant (Valeant USA and, together with Valeant, the Reporting Persons), relating to common shares, par value $0.01 (the Common Stock), of Allergan, Inc., a Delaware corporation (the Issuer). Capitalized terms used but not defined herein shall have the meaning set forth in the Original 13D.
ITEM 6 | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. |
Item 6 of the Original 13D is hereby amended and supplemented by adding the following information:
On September 16, 2014, Pershing Square and Valeant announced an agreement with the Issuer to settle pending litigation before the Delaware Court of Chancery. The Stipulation and Order granted by the Delaware Court of Chancery relating to the settlement is filed as Exhibit 99.1 and is incorporated by reference into this Item 6 as if restated in full. The press release announcing the settlement is filed as Exhibit 99.2 and is incorporated by reference into this Item 6 as if restated in full.
ITEM 7 | Material to be Filed as Exhibits |
Exhibit |
Document Description | |
99.1 | Stipulation and Order Settling Allergan Special Meeting of Stockholders, dated September 16, 2014. | |
99.2 | Press release issued by Pershing Square Capital Management, L.P. and Valeant Pharmaceuticals International, Inc., dated September 16, 2014. |
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this amendment is true, complete and correct.
Dated: September 16, 2014
VALEANT PHARMACEUTICALS INTERNATIONAL, INC. | ||||
By: | /s/ Robert R. Chai-Onn | |||
Name: Robert R. Chai-Onn | ||||
Title: Executive Vice President, General Counsel and Chief Legal Officer, Head of Corporate and Business Development |
VALEANT PHARMACEUTICALS INTERNATIONAL | ||||
By: | /s/ Robert R. Chai-Onn | |||
Name: Robert R. Chai-Onn | ||||
Title: Executive Vice President, General Counsel and Corporate Secretary |
EXHIBIT INDEX
Exhibit |
Document Description | |
99.1 | Stipulation and Order Settling Allergan Special Meeting of Stockholders, dated September 16, 2014. | |
99.2 | Press release issued by Pershing Square Capital Management, L.P. and Valeant Pharmaceuticals International, Inc., dated September 16, 2014. |
Exhibit 99.1
COURT OF CHANCERY STATE OF DELAWARE GRANTED IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE PS FUND 1, LLC, PERSHING SQUARE ) CAPITAL MANAGEMENT, L.P., ) VALEANT PHARMACEUTICALS ) INTERNATIONAL, INC., and ) VALEANT PHARMACEUTICALS ) INTERNATIONAL, ) ) Plaintiffs, ) ) v. ) C.A. No. 10057-CB ) ALLERGAN, INC., DAVID E.I. ) PYOTT, MICHAEL R. GALLAGHER, ) DEBORAH DUNSIRE, TREVOR M. ) JONES, LOUIS J. LAVIGNE, JR., ) PETER J. MCDONNELL, TIMOTHY D. ) PROCTOR, RUSSELL T. RAY and ) HENRI A. TERMEER, ) ) Defendants. ) STIPULATION AND ORDER SETTING ALLERGAN SPECIAL MEETING OF STOCKHOLDERS IT IS HEREBY STIPULATED AND AGREED, by and between the parties, through their undersigned counsel, subject to the approval of the Court, as follows: 1. PS Fund 1, LLC (Pershing Square) has delivered to Allergan, Inc. (Allergan) requests by stockholders of Allergan (the Requests) calling for a special meeting of stockholders concerning the proposals stated in the Requests, as set forth in full under the heading Plans for the Special Meeting, in the 1 01:15578698.1 RLF1 10814941v.1
solicitation statement filed by PS Fund 1, LLC with the U.S. Securities and Exchange Commission on July 11, 2014 (the Special Meeting). 2. Allergan shall hold the Special Meeting on December 18, 2014. 3. October 30, 2014 shall be the record date for stockholders entitled to vote at the Special Meeting. 4. Defendants will not alter the foregoing dates (unless Plaintiffs agree), and Defendants shall take no action to delay, postpone or not hold the Special Meeting on December 18, 2014 or seek to invalidate any Requests. 5. Defendants shall not adjourn the Special Meeting unless adjournment is approved by holders of a majority of Allergan stock present in person or by proxy at the Special Meeting. 6. The above-captioned action is dismissed without prejudice pursuant to Court of Chancery Rule 41(a)(1)(ii). Each party will bear its own fees and costs. 7. Without affecting the finality of this Stipulation and Order in any way, this Court retains continuing and exclusive jurisdiction over the parties for purposes of the administration, interpretation, implementation, and enforcement of this Stipulation and Order. 2 01:15578698.1 RLF1 10814941v.1
OF COUNSEL: Jay P. Lefkowitz Matthew Solum John P. Del Monaco Danielle R. Sassoon KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, New York 10022 Tel.: (212) 446-4800 OF COUNSEL: Brian T. Frawley SULLIVAN & CROMWELL LLP 125 Broad Street New York, New York 10004 Tel.: (212) 558-4000 Fax: (212) 558-3588 /s/ Tammy L. Mercer David C. McBride (ID No. 408) Martin S. Lessner (ID No. 3109) Christian Douglas Wright (ID No. 3554) Tammy L. Mercer (ID No. 4957) Benjamin Z. Grossberg (ID No. 5615) YOUNG CONAWAY STARGATT & TAYLOR, LLP 1000 North King Street Rodney Square Wilmington, Delaware 19801 Tel.: (302) 571-6600 Attorneys for PS Fund 1, LLC and Pershing Square Capital Management, L.P. /s/ Robert S. Saunders Robert S. Saunders (ID No. 3027) Ronald N. Brown, III (ID No. 4831) Brian D. King (ID No. 5028) Arthur R. Bookout (ID No. 5409) SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP One Rodney Square P.O. Box 636 Wilmington, Delaware 19899-0636 Tel.: (302) 651-3000 Fax: (302) 651-3001 Attorneys for Plaintiffs Valeant Pharmaceuticals International, Inc. and Valeant Pharmaceuticals International 3 01:15578698.1 RLF1 10814941v.1
OF COUNSEL: William Savitt Bradley R. Wilson WACHTELL, LIPTON, ROSEN & KATZ 51 West 52nd Street New York, New York 10019 Tel.: (212) 403-1000 Peter A. Wald LATHAM & WATKINS LLP 505 Montgomery Street, Suite 2000 San Francisco, California 94111 Tel.: (415) 391-0600 Blair G. Connelly Virginia F. Tent LATHAM & WATKINS LLP 885 Third Avenue New York, New York 10022 Tel.: (212) 906-1200 Michele D. Johnson Kristin N. Murphy LATHAM & WATKINS LLP 650 Town Center Drive, 20th Floor Costa Mesa, California 92626 Tel.: (714) 540-1235 Dated: September 15, 2015 /s/ Raymond J. DiCamillo Lisa A. Schmidt (ID No. 3019) Raymond J. DiCamillo (ID No. 3188) Susan M. Hannigan (ID No. 5342) Rachel E. Horn (ID No. 5906) RICHARDS, LAYTON & FINGER, P.A. 920 North King Street Wilmington, Delaware 19801 Tel.: (302) 651-7700 Attorneys for Defendants IT IS SO ORDERED. Dated: September , 2014 By: The Honorable Andre Bouchard 4 01:15578698.1 RLF1 10814941v.1
This document constitutes a ruling of the court and should be treated as such. Court: DE Court of Chancery Civil Action Judge: Andre G Bouchard Alternate Judge: Unassigned File & Serve Transaction ID: 56036644 Current Date: Sep 16, 2014 Case Number: 10057-CB Case Name: CONF ORD ON DISC - P S Fund 1 LLC vs Allergan Inc Court Authorizer: Bouchard, Andre G /s/ Judge Bouchard, Andre G
Exhibit 99.2
Pershing Square, Valeant and Allergan Settle Pending Litigation Before the Delaware
Court of Chancery
Allergan to Announce Unconditional Calling of a Special Meeting of Shareholders
NEW YORK AND LAVAL, QUEBEC Pershing Square Capital Management, L.P. (Pershing Square) and Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSX: VRX) (Valeant) announced an agreement with Allergan, Inc. (NYSE:AGN) (Allergan) to settle pending litigation before the Delaware Court of Chancery.
Pursuant to the settlement, Allergan has agreed to unconditionally call and hold a special meeting of its shareholders on December 18, 2014.
Shareholders of record at the close of business on October 30, 2014 will be entitled to receive notice of and vote at the meeting. Shareholders who submitted special meeting requests will not be required to provide updated information to the company in advance of the meeting.
Pershing Square has delivered requests calling for a special meeting from 51 institutions representing 35.68% of the outstanding common stock of Allergan.
At the special meeting, Allergan shareholders will have the opportunity to voice their support for a number of critical matters, including the removal of six incumbent members of the Allergan board, the appointment of an independent slate of directors, amendments to Allergans bylaws to eliminate onerous restrictions on the calling of a special meeting, a request that Allergan engage in negotiations with Valeant and Pershing Square, and certain other actions to improve corporate governance of Allergan.
Allergan has reserved the right to continue to pursue existing litigation in federal court in California but will no longer seek the invalidation of any special meeting requests or otherwise seek to postpone or cancel the special meeting. Valeant and Pershing Square believe that Allergans claims and request for relief in the California litigation are entirely without merit and will ultimately be rejected.
ABOUT PERSHING SQUARE
Pershing Square is a Securities and Exchange Commission registered investment advisor to private investment funds. A fund managed by Pershing Square is Allergans largest shareholder owning approximately 9.7% of shares outstanding.
ABOUT VALEANT PHARMACEUTICALS INTERNATIONAL, INC.
Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of dermatology, eye health, neurology and branded generics. More information about Valeant can be found at www.valeant.com.
ADDITIONAL INFORMATION
This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to Pershing Squares solicitation of written requests to call a special meeting of shareholders of Allergan. In furtherance of this proposal and subject to future developments, Pershing Square has filed a definitive solicitation statement with the SEC on July 11, 2014 (the solicitation statement) and a preliminary proxy statement on June 23, 2014, as it may be amended from time to time (the proxy statement) with respect to a special meeting of Allergan shareholders, Valeant has filed a registration statement on Form S-4 (the Form S-4) and a tender offer statement on Schedule TO (including the offer to exchange, the letter of election and transmittal and other related offer materials) with the SEC on June 18, 2014, as it may be amended from time to time (together with the Form S-4, the Schedule TO), and a preliminary proxy statement on June 24, 2014, as it may be amended from time to time, with respect to a meeting of Valeant shareholders. Pershing Square and Valeant (and, if a negotiated transaction is agreed, Allergan) may file one or more solicitation statements, registration statements, proxy statements, tender or exchange offer documents or other documents with the SEC. This communication is not a substitute for the solicitation statement, the Schedule TO, or any other solicitation statement, proxy statement, registration statement, prospectus, tender or exchange offer document or other document Pershing Square, Valeant and/or Allergan may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF VALEANT AND ALLERGAN ARE URGED TO READ THE SOLICITATION STATEMENT, THE SCHEDULE TO, THE PROXY STATEMENT AND ANY OTHER SOLICITATION STATEMENT, PROXY STATEMENT, REGISTRATION STATEMENT, PROSPECTUS, TENDER OR EXCHANGE OFFER DOCUMENTS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The solicitation statement has been mailed to stockholders of Allergan. Any definitive solicitation statement or proxy statement(s) or definitive tender or exchange offer documents (if and when available) will be mailed to stockholders of Allergan and/or Valeant, as applicable. Investors and security holders will be able to obtain free copies of the solicitation statement, the Schedule TO and the proxy statement and will be able to obtain free copies of other documents (if and when available) filed with the SEC by Pershing Square and/or Valeant through the web site maintained by the SEC at http://www.sec.gov.
Information regarding the names and interests in Allergan and Valeant of Pershing Square and persons related to Pershing Square who may be deemed participants in any solicitation of Allergan or Valeant shareholders in respect of a Valeant proposal for a business combination with Allergan is available in the solicitation statement. The solicitation statement can be obtained free of charge from the sources indicated.
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws that was prepared as of the specific dates and/or for the specific periods referenced in the materials contained or referred to in this communication. All information contained in this communication that is not clearly historical in nature or that necessarily depends on future or subsequent events is forward-looking information prepared as of the specific dates and for the specific periods referenced in the applicable document contained or referred to in this communication, and the words anticipate, believe, expect, estimate, plan, and similar expressions are
generally intended to identify forward-looking information as of such date(s). Such forward-looking information was based on the expectations of Pershing Square and Valeant and information available at the time of initial publication or dissemination of such information. They were not, and are not, guarantees of future performance, events or results, involve various risks and uncertainties that are difficult to predict and are based upon assumptions, risks and uncertainties as to future events, performance or results that were believed to be reasonable at the time such information was initially made available but may not prove to be accurate and, in most cases, have been superseded, modified or replaced by subsequent information, events or developments These assumptions, risks and uncertainties include, but are not limited to, assumptions, risks and uncertainties discussed in Valeants most recent annual or quarterly report filed with the SEC and the Canadian Securities Administrators (the CSA) and assumptions, risks and uncertainties relating to the proposed merger, as detailed from time to time in Valeants filings with the SEC and the CSA, which factors are incorporated herein by reference. All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements. While Pershing Square or Valeant may elect to update forward-looking information contained in this communication at some point in the future, Pershing Square and Valeant do not assume any obligation to update any such forward-looking information, except as required by and in accordance with applicable laws.
Pershing Square Contact Information
Rubenstein
Carolyn Sargent, 212-843-8030
csargent@rubenstein.com
or
Steve Murray, 212-843-8293
smurray@rubenstein.com
Valeant Contact Information: |
||
Investors: |
Media: | |
Laurie W. Little |
Renee E. Soto/Meghan Gavigan | |
Valeant Pharmaceuticals International, Inc. |
Sard Verbinnen & Co | |
949-461-6002 |
212-687-8080 |
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