Billionaire Investor Takes Large Allergan Stake

Billionaire investor Carl Icahn has taken a large stake in Allergan and voiced his support for CEO Brent Saunders.

According the Icahn's public statement, "We (Icahn Enterprises) have every confidence in Brent’s ability to enhance value for all Allergan shareholders."

The Allergan investment was Carl Icahn’s first new position of 2016. Bloomberg columnists have pointed out that rival activist Bill Ackman has a large stake in Allergan rival, Valeant and have compared the two investments.