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Activist investor Bill Ackman said today that he would withdraw from a special shareholders’ meeting he had planned in the wake of Irvine-based Allergan Inc.’s $66 billion acquisition by Actavis PLC, according to CNBC.

Ackman, whose Pershing Square Capital Management LP owns 10% of Allergan, told CNBC that he supported the Actavis deal, which was billions more than Canada-based Valeant Pharmaceuticals International Inc. was willing to pay for the Botox maker.

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Ackman and Valeant had fought alongside each other for control of Allergan. He had called for the special meeting to remove a majority of Allergan’s board and open up negotiations.

Allergan shares were up 2% to a market value of $63.8 billion. Valeant shares rose 4% to a market value of $47.7 billion. Actavis’ shares were up 8% to a market value of $71 billion.