ValueAct reports 21.5% ownership interest in Valeant Pharmaceuticals

By Lisa Kerner

Charlotte, N.C., July 23 - Investors led by ValueAct Master Fund, LP bought 976,834 shares of Valeant Pharmaceuticals International between June 17 and July 21 priced from $22.78 to $24.99 each, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.

Between June 2 and June 16, ValueAct bought 876,476 shares for a 20.3% stake, a prior SEC filing said.

The investors beneficially own 17,686,503 shares, or 21.5%, of the Costa Mesa, Calif., specialty pharmaceutical company.

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