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Unusual alliances form in the Battle for Botox Add to ...

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The hostile battle for Allergan Inc. is making for some intriguing bedfellows.

First, we have the unusual alliance of activist New York investor William Ackman and Canadian-based Valeant Pharmaceuticals International Inc. Acquisitive, debt-loving Valeant is the sort of company that a hedge fund operator who focuses on wringing more value out of underperforming firms ought to be more interested in shorting than supporting in by far the most expensive foray in its history.

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