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Filing Details

Accession Number:: 0000899243-17-007445
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-03-14 16:14:57
Reporting Period:: 2017-03-13

Filing Date:: 2017-03-14
Accepted Time:: 2017-03-14 16:14:57
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
885590	Valeant Pharmaceuticals International Inc.	VRX	Pharmaceutical Preparations (2834)	000000000

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1056513	A William Ackman	888 Seventh Avenue 42Nd Floor New York NY 10019	Yes	No	No	No
1336477	Ps Management Gp, Llc	888 Seventh Avenue 42Nd Floor New York NY 10019	Yes	No	No	No
1336528	Pershing Square Capital Management, L.p.	888 Seventh Avenue, 42Nd Floor New York NY 10019	Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value	Disposition	2017-03-13	18,114,432	$11.00	0	No	4	S	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Call Option (call equivalent position)	Disposition	2017-03-14	91,200	$0.30	9,120,000	$60.00
Common Stock	Put Option (call equivalent position)	Disposition	2017-03-13	9,120,000	$47.65	9,120,000	$60.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2019-01-18	No	4	S	Indirect
0		2019-01-18	No	4	P	Indirect

Footnotes

In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("Pershing Square"), this Form 4 is being filed jointly by PS Management GP, LLC, a Delaware limited liability company ("PS Management"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Pershing Square and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities").
Pershing Square advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PS"), Pershing Square II, L.P., a Delaware limited partnership ("PS II"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PS International"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PS, PS II and PS International, the "Pershing Square Funds").
Pershing Square, as the investment adviser to the Pershing Square Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. As the general partner of Pershing Square, PS Management may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). By virtue of William A. Ackman's position as Chief Executive Officer of Pershing Square and managing member of PS Management, William A. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.
William A. Ackman and Stephen Fraidin, each a member of the board of directors of the Issuer, were elected to the board as representatives of the Reporting Persons, the Pershing Square Funds and Pershing Square GP, LLC. As a result, each of those persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934
The Reporting Persons for the accounts of the Pershing Square Funds unwound listed American-style call options (with 100 multiplier) and unwound over-the-counter European-style put options, each referencing a total of 9,120,000 shares of the Issuer's common stock which had an expiration date of January 18, 2019.