“You have to give the Allergan bidders credit for being creative. This is the first shadow shareholder referendum of its kind filed at the SEC, and it’s at the expense of shareholder transparency.” U.S. Rep. Ed Royce (R-California) in a letter to the SEC in which he expressed concerns about the way Valeant Pharmaceuticals and William Ackman of Pershing Square Capital Management have teamed up to take over Allergan.
