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Max Nisen

Ackman's Modest Allergan Proposal

Merging with Valeant or Amgen wouldn't make sense.

While Pfizer and Allergan work to strike a merger deal by the somewhat arbitrary deadline of Thanksgiving, vultures are circling. Or in this case, silver foxes.

Pershing Square's Bill Ackman and Third Point's Dan Loeb reportedly suggested, at the Robin Hood Investor's Conference on Tuesday, that Allergan might be better off uniting with their pet pharma firms: Valeant and Amgen, respectively. This seems like wishful thinking on the part of the hedge-fund gurus -- even a bit desperate, particularly in Ackman's case.