Appaloosa LP Sends Letter To Allergan About Resolution To Separate Roles Of Chairman, CEO
Feb 19 (Reuters) - Appaloosa LP::APPALOOSA LP SENDS LETTER TO ALLERGAN BOARD IN RESPONSE TO RESOLUTION TO SEPARATE ROLES OF CHAIRMAN AND CEO.APPALOOSA LP, IN LETTER TO ALLERGAN, SAYS SEEKS A MORE IMMEDIATE SEPARATION OF CHAIR AND CEO.SAYS WILL NOT WITHDRAW ITS ALLERGAN PROPOSALS FROM THIS YEAR’S PROXY STATEMENT.IF ALLERGAN BOARD "UNABLE OR UNWILLING" TO FIND SUITABLE REPLACEMENT, IT IS "FIDUCIARY OBLIGATION" TO EXPLORE OTHER OPTIONS, INCLUDING MERGER/SALE.BOB HUGIN WOULD HAVE BEEN A "CREDIBLE CANDIDATE" FOR ALLERGAN CHAIRMAN GIVEN "HIS STANDING IN THE INDUSTRY".
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