Ackman says Valeant’s bid for Allergan is a ‘happy’ one

Small wonder Bill Ackman is calling Valeant Pharmaceutical's $53 billion bid for Botox maker Allergan a "happy" bid instead of a hostile one.

Ackman said Thursday he is trying to line up 45 percent of shareholders to call a special meeting to replace six directors — although he only needs 25 percent — because of what he called Allergan's "unbelievably burdensome" requirements.

A few hours before the activist hedgie bounded onto a Midtown stage to hug his former foe Carl Icahn at a conference Wednesday, he was trashing Allergan for what he calls anti-shareholder bylaws in a meeting with proxy adviser ISS.

ISS told Ackman it would make a recommendation about a special shareholder meeting by early August, he said in a conference call with investors

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