Pershing Square Activist Presentation Deck
30% Downside
the Unaffected
Share Price (USD)
Allergan's unaffected share price is $116.63, the closing price on April 10th,
the day before Pershing Square began its rapid accumulation program
Allergan share price and volume from 2/25/2014 to 7/14/2014
$185
$175
$165
$155
$145
$135
$125
$115
$105
Feb-25
ADTV
Date Range
1/1/2014 4/10/2014 2.6mm
4/11/2014 4/21/2014 6.8mm
4/22/2014 7/14/2014 4.1mm
Mar-03
Apr. 9-10:
No Pershing
purchases
Mar-07
Mar-13
to AGN Shares if they Revert to
Share Price
malico.l
Mar-19
Mar-25
Mar-31
Apr-04
Apr-10
Apr-16
Apr-23
Apr-29
May-05
May-09
May-15
May-21
May-28
Jun-03
30% downside
to unaffected
share price of
$116.63
dumdu
Jun-09
Volume
Jun-13
Jun-19
Jun-25
Jul-01
Jul-08
-Share Price
Jul-14
35,000
30,000
25,000
20,000
15,000
10,000
5,000
Shares,
Options, and Forwards
Purchased by Pershing Square
Note: Chart shows Allergan's share price, volume, and the number of shares, delta-one options, and forwards purchased by Pershing Square from February 25, 2014, the day Pershing
Square began its purchases, to July 14, 2014 Share price and volume data are as per Capital IQ.
94
0
Volume ('000 shares)View entire presentation