Callahan v. Busch; Check Pyott’s Sleeve; Full of Philanthropy

The Dec. 18 date that’s been set for a special shareholders meeting on Valeant Pharmaceuticals’ hostile bid for Irvine-based Allergan didn’t add up to much on Wall Street, where neither company saw its shares do much last week. Valeant’s cash-and-stock bid headed toward the end of trading Friday with a value of about $169 a share, or $50.3 billion— barely a premium over Allergan’s mark of about $163 a share for a market cap of $48.5 billion. The relative calm in the market amid the battling barristers makes the Insider wonder what Allergan CEO David Pyott has in store … Steve George’s claim that the same Balboa Bay Club that has a “culture of debauchery and discrimination” unfairly booted him from membership puts a couple of OC’s better known lawyers in the picture. George is represented by Brian McCormack, a colleague of Dan Callahan’s at Callahan & Blaine. The Balboa Bay Club is managed by Tim Busch’s Pacific Hospitality Group, and will have Michael Caspino of Busch & Caspino on its side … That’s a straightforward fight compared with the Irvine Community News & Views, a weekly newspaper that claims to be “Serving the Villages and Neighborhoods” of the city but strikes some readers as a campaign piece for Larry Agran … A couple of stories on our front page, along with more in this week’s Special Report on Philanthropy (starts on page 23), get straight to the point that there are a lot of uplifiting stories amid the drama of hostile takeovers, legal posturing and political calculation … Start with Business Journal sales rep Carol Fox and her colleagues at the OC chapter of the Crohn’s & Colitis Foundation of America. Their 3rd Annual Bocce Invitational at Il Fornaio raised $50,000. Sponsors included California Bank & Trust; Il Fornaio; MBK Homes; Senvest; Union Bank; and the Business Journal. CB&T edged Sunwest Bank for 1st place … Among the updates from Bobby McDonald during the OC Black Chamber’s recent 30th anniversary gala at the City National Grove: Another $30,000 has been raised for the group’s education fund, which has now put more than $250,000 toward college scholarships for students of all backgrounds … Sage Hill School provides full or partial scholarships to about 15% of its students—all of whom will get the benefit of the Lisa Argyros and Family Science Center. The 13,000-square-foot center, helped along by a $2.5 million gift from the Argyros Family Foundation, got its ribbon cut in an Aug. 25 ceremony … Credit Laguna College of Art and Design Professor William J. Havlicek with an insightful, delightful Bower’s Museum lecture on Cultural Influences of the Spanish Masters: From Velazquez to Picasso. Havlicek has managed to mix philanthropy into his work, which includes a book about one of the Dutch masters titled “Van Gogh’s Untold Journey.” A portion of proceeds from sales go to the Netherlands-based Endangered Child Foundation … Tony Moiso’s recent Mission Viejo Rodeo drew another big crowd for its annual run down on the ranch, and proceeds will go to various charities, including the nearby J.F. Shea Therapeutic Riding Center. The center—which helps patients with conditions such as cerebral palsy and Down syndrome—will get more help for its BBQ and Family Faire on Sept. 27, when the Montage Laguna Beach will prepare dinner for more than 1,500 guests and donate appetizers and service for sponsors and VIPs.