Deals
Allergan Attempts to Elude Ackman Bid Fuel Bearish Bets
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Should Bill Ackman and Valeant Pharmaceuticals International Inc. fail in their bid to take over Allergan Inc., options traders will be hedged.
There are 1.4 bearish puts on Allergan for each call outstanding, close to the highest level since 2008, according to data compiled by Bloomberg. Last week, two-month contracts betting on a decline in the shares reached the most expensive level since 2011, compared with those betting on a gain.