SAN FRANCISCO, June 11, 2015 /PRNewswire/ -- ValueAct
Capital Management, L.P. announced today that it has sold 4.2
million shares of Valeant Pharmaceuticals International, Inc.
(NYSE: VRX; TSX: VRX) in brokers' transactions on the NYSE.
ValueAct Capital's CEO Jeffrey W.
Ubben said: "Mike Pearson and
the Valeant team's exceptional performance have once again caused
our investment in Valeant to grow in value to well above 20% of our
funds' assets, and we are again compelled to reduce our position to
rebalance our overall portfolio. We have owned Valeant shares
for over nine years and have sold shares on three previous
occasions for the same portfolio management purposes. After this
sale, our investment in Valeant will continue to be well in excess
of $3.0bn and will be one of the
largest investments in our funds. I look forward to continuing to
work with Mike and my fellow members of the Board of
Directors."
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements.
All statements contained in this press release that are not clearly
historical in nature or that necessarily depend on future events
are forward-looking, including statements regarding ValueAct
Capital's expectations regarding its portfolio and its investment
in Valeant and statements that include the words "anticipate,"
"believe," "expect," "estimate," "plan," "will" and similar
expressions are generally intended to identify forward-looking
statements. These statements are based on current
expectations of ValueAct Capital and currently available
information. They are not guarantees of future performance, involve
certain risks and uncertainties that are difficult to predict, and
are based upon assumptions as to future events that may not prove
to be accurate. ValueAct Capital does not assume any
obligation to update any forward-looking statements contained in
this press release, except as required by applicable law.
About ValueAct Capital
ValueAct Capital is an investment management firm founded in
2000 with assets under management of approximately $20 billion. ValueAct Capital's investment
strategy combines intensive due diligence, a concentrated number of
investments, and active, constructive involvement in the value
creation at those investments.
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SOURCE ValueAct Capital Management, L.P.