Ackman’s Look; Pearson’s Push; Pyott’s Propriety

Has anyone looked more the part of the 1980s corporate raider than Bill Ackman as he circles Allergan as a main character in Valeant Pharmaceuticals’ $47 billion hostile bid for the Irvine-based drug maker? … Could Ackman have picked a tougher nut to crack than David Pyott, ever the Scotsman who takes a measure of pride in his—and Allergan’s—thriftiness? … Any chance that Valeant CEO Michael Pearson succeeds in getting under Pyott’s skin? Here’s a shot Pearson took during a press conference: “Allergan is not owned by PE, so let’s assume their starting point is they are a little fatter” … Here’s betting Pyott leaves that bait on the hook (see related story, page 1) … Pyott is in the headlines here, but it’s a different story on his auld sod, where Manchester United sacked fellow Scotsman David Moyes just as Ackman and Pearson went after Allergan. Pyott might get more attention across the pond if Allergan buys Ireland-based drug maker Shire, a deal that has been suggested by some observers as a possible defensive move. Conventional wisdom holds that a Shire buy would come in around $40 billion—and remains unlikely … Orange County is auld sod of sorts for Pearson, by the way. He became Valeant’s CEO in 2008 when the company was based in Aliso Viejo. Pearson lived in an apartment in Newport Beach but still called New Jersey home. He told the Business Journal in early 2010 that he and his wife would consider moving here after their youngest son graduated high school, but the company soon combined with Biovail, which took the Valeant name, kept Pearson in charge, and moved him to Canada … Pearson has shown a grinder’s tendency and an ability to get what he wants one way or another. Valeant went after Irvine-based Ista Pharmaceuticals with two unsolicited bids in early 2012, the second for $360 million. Ista got $500 million from Bausch & Lomb within a couple of months. And Valeant paid $8.7 billion for Bausch about a year after that … One OC lawyer managed to run the Boston Marathon just in time regardless of his time. Cary Hyden of Latham & Watkins covered the route in 4:28:16—finishing just a few hours before longtime client Allergan received Valeant’s unsolicited bid … Another local barrister, John Hueston of Irell & Manella, finished the race in 3:12:37, perhaps with some wind in his sails from the key role he played in Anadarko Petroleum’s recent $5.15 billion settlement of various environmental claims … Happy 50th to Laguna Beach-based Imax specialist MacGillivray Freeman Films, which can no doubt count Greg MacGillivray—the first documentary filmmaker to do more than $1 billion in box office—as a key to its longevity. The company will add a Lifetime Achievement Award as the Newport Beach Film Festival continues this week. A screening of “Five Summer Stories” is set for 5 p.m. on April 29 at the South Coast Village Theater, followed by a panel discussion among some surfing greats. MacGillivray will receive honors and take questions before the screening of his newest film, “Journey to the South Pacific,” at the Regency Lido at 7:30 p.m. on April 30 … Lineup change: David Winter to publisher of Riviera Orange County in place of Chris Gialanella, now group publisher for Angeleno, a sister operation under Modern Luxury.