Ackman’s $5.3 Billion Allergan Bet Examined Before Vote

Bill Ackman’s accumulation of $5.3 billion of Allergan Inc. stock is being scrutinized by a judge who must decide whether the hedge fund manager can vote his 10 percent stake to help seal a hostile takeover bid by Valeant Pharmaceuticals International Inc.

Allergan, maker of the anti-wrinkle treatment Botox, seeks a court order barring Ackman from voting the shares held by his PS Fund 1 at a Dec. 18 meeting, where shareholders will be asked to remove six directors who oppose Valeant’s $54 billion unsolicited bid.