25 Sep 2014 Jeffrey Ubben Appointed To The Board Of Valeant Pharmaceuticals ( Portfolio )

"ValueAct is delighted to once again be a part of the Valeant Board of Directors," stated Jeffrey W. Ubben, chief executive officer of ValueAct Capital. "Valeant has been an important component to ValueAct's success over the past seven years and we strongly believe in Valeant's business model and strategy. Valeant has become significantly undervalued on a standalone basis due to recent unjustified attacks on the company. We are strongly supportive of the Allergan-Valeant combination in light of their perfect strategic fit and the potential to create enormous shareholder value for both companies. ValueAct has not reduced its position in Valeant since leaving the Board in May and we expect to increase our already substantial position in Valeant. I look forward to working with Mike and the Board of Directors to help secure the Allergan transaction and then continuing to serve on the Board to deliver long-term value to all shareholders."