Pershing Square Ups Stake In Valeant Pharmaceuticals (VRX)

• Pershing Square acquires 2,144,618 shares of Valeant Pharmaceuticals (VRX) from 1-Oct-15 to 23-Nov-15
• Total cost: $240,933,692

• Pershing Square sells strangles to fund purchases of OTM calls; first on 20-Nov-15 and then again on 23-Nov-15
• Total exposure through options: 12,500,000 shares; total cost: $65,561,919
• Total additions: 14,644,618 shares; total cost: $306,495,611

• Pershing Square total stake: 9.9% (34.12 mln shares)

Here’s the latest snippet from a zerohedge post:

• Average cost: $113.76
• Valeant Pharmaceuticals (VRX) current stock price: $87.34 (source: Google Finance; 7:59PM – Nov23’15)

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