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If Ackman’s plans follow through the development will mark a rare alliance between activist and “corporate conglomerate,” which many financial publications have noted.

After Ackman’s efforts were announced publicly stock prices soared 17%. Valent has also experienced an 11% rise in stock prices.

"The combination of Valeant and Allergan represents the most strategic and value-creating transaction I have ever analyzed,” Ackman said. "I strongly urge the Allergan Board of Directors to carefully examine the proposed transaction and enter into negotiations with Valeant so that a merger can be consummated promptly. We will be electing all-stock consideration in the transaction so that we can remain a long-term holder of the combined company.”

Read more at Forbes.

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