Our hedge fund insider posted this in the FXWW chat-room on Reuters:
We should keep an eye on this M/A deal – William Ackman partnering Quebec-based Valeant Pharmaceuticals to buy Allergan Inc. for about $46bn. The cash portion, we reckon is about $14.5bn. This is not a done deal as yet but should be supportive. Allergan inc is a US healthcare and pharma company. Plenty going on in pharma M&A it seems… Market looking at 1.1000 usd/cad (yesterday’s low) as a buy zone now…