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Billionaire investor Carl Icahn said on Tuesday he had acquired a "large position" in Botox-maker Allergan Plc and that he was very supportive of CEO Brent Saunders.
Shares of Allergan rose 2.6% to $242 in early trading.
Icahn, who did not disclose details of the stake, said he was confident in Saunders' ability to enhance value for all Allergan shareholders.
Icahn, who launched a $150 million political action committee advocating tax reform to eliminate inversions, was firmly against the now terminated Pfizer-Allergan deal, saying it would result in the loss of the country's 10th largest company to Ireland.