Carl Icahn in studio FBN

(Reuters)

Carl Icahn Acquires 'Large Position' in Allergan

Markets Reuters

Billionaire investor Carl Icahn said on Tuesday he had acquired a "large position" in Botox-maker Allergan Plc and that he was very supportive of CEO Brent Saunders.

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Shares of Allergan rose 2.6 percent to $242 in early trading.

Icahn, who did not disclose details of the stake, said he was confident in Saunders' ability to enhance value for all Allergan shareholders. (http://bit.ly/1UatnIM)

Icahn, who launched a $150 million political action committee advocating tax reform to eliminate inversions, was firmly against the now terminated Pfizer-Allergan deal, saying it would result in the loss of the country's 10th largest company to Ireland. (Reporting by Amrutha Penumudi in Bengaluru; Editing by Sriraj Kalluvila)

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