Allergan declined to discuss potential for Tepper activism, says Wells Fargo
Wells Fargo analyst David Maris spoke to Allergan after the Federal Trade Commission today granted antitrust clearance for David Tepper and his funds, Appaloosa Investment and Palomino Fund, in relation to the company. Allergan indicated the clearance provides flexibility to the filer as to whether it wants take an activist approach, Maris tells investors in a research note. When asked whether Appaloosa had reached out with specific changes it would like to see, Allergan indicated that it would not discuss any specific discussions it had with any shareholders or even confirm any talks took place, Maris adds. The analyst keeps an Outperform rating on Allergan. The stock in late afternoon trading is up 4% to $160.22.