March 16 Hedge fund ValueAct Holdings LP raised
its stake to 5.2 percent in Valeant Pharmaceuticals
International Inc, calling Valeant's shares
"undervalued" and saying it intends to continue to discuss with
the company to "enhance shareholder value".
ValueAct said its discussions with Valeant would also
include financial condition, mergers and acquisitions strategy
and overall business strategy. (bit.ly/2m6ZHau)
Earlier, billionaire investor William Ackman sold his stake
in Valeant with a loss of more than $3 billion after trying to
rescue it for some 18 months.
The Canadian drugmaker's shares rose about 5 percent to
$11.73 in extended trading on Thursday.
(Reporting by Gayathree Ganesan in Bengaluru; Editing by