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Bill Ackman Has Made Over $2.2 Billion On A Deal That's Arguably A Failure

Bill Ackman
Bill Ackman. YouTube / Saïd Business School, University of Oxford

The Irish pharmaceutical company Actavis is buying Allergan for $219 per share in a cash and stock deal valued at $66 billion. 

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For months, Allergan has worked to fend off a hostile bid from the Canadian pharmaceutical company Valeant and activist investor Bill Ackman.

All of Ackman and Valeant's offers had been rejected. The most recent bid for the Botox-maker was $53 billion.

Even though Valeant was unsuccessful in its takeover attempt, Ackman is still getting a massive payout. 

Ackman, who runs Pershing Square Capital, last held 28,878,538 shares of Allergan, according to his fund's most recent 13F filing.

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Since he first disclosed his stake back in April, shares of Allergan have surged

According to our calculations, Ackman has made more than $2.28 billion on his position in Allergan. He started buying Allergan stock back in February, so it's probably even higher. 

Ackman doesn't own any shares of Valeant. 

Meanwhile, Ackman recently disclosed a large stake in the animal health company Zoetis.

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Zoetis is seen as a potential takeover target. Shares of Zoetis were trading up more than 2.10% on Monday.

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