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novartis, lily in a strings of multibillion dar deals. we call it pharma palooza. what does it mean for you? this, folks, is power lunch. this, sue, is your power lunch on drugs. indeed it is, certainly today. we have it all covered with a fantastic team. pershing square s big ackman and valiant s ceo presenting their idea before investors and the media in new york a bit earlier. kate kellie has the takeaway. high, kate. we re well into hour number two of this investor presentation when we heard from both. big ackman taking the stage for the second time since i ve been here just as i walked out. he ll be taking q&a in just a few minutes. a quick reminder on what this deal entails. it s essentially a proposes cash and stock transaction in which every share of allergan would be received for cash as well as a large majority of a valeant shares, a lot of talk from michael pearson today who s been successful in dlirg shareholder returns about the durability of his as ....
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