Tiger Global Bets on Apollo Global Mgmt (APO); Valeant Pharmaceuticals Intl (VRX) Confirms the Confirmed

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Hedge fund firm Tiger Global Management LLC disclosed Friday in a regulatory filing ( SC 13G ) with the Securities and Exchange Commission (SEC) a 7% passive stake (13,063,200 shares) in Apollo Global Management LLC (NYSE:APO).

APO stock closed at $22.99, down $0.19 (or -0.82%) with a total volume of 2.01M shares traded on Friday.

Apollo Global Management, an alternative investment manager in private equity, credit and real estate,  has 187.14M shares outstanding, market capitalization (intraday) of $9.37B and APO stock one-year range is from $14.25 to $24.00 per share.

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Valeant Pharmaceuticals International, Inc. (NYSE:VRX) reported after the closing bell Friday in a SEC filing ( Form 8-K ) that billionaire William A. Ackman and Stephen Fraidin informed the company that they do not intend to stand for re-election to the Board at the next annual meeting of stockholders. According to Valeant, their decision comes after Pershing Square Capital Management, L.P. – where they are CEO and Vice Chairman respectively – sold its investment in the Canadian pharmaceutical and medical device company, adding that it was not a result of any disagreement between the parties.

VRX stock finished Friday’s trading session in negative territory by 1.52% (or -$0.17) at $11.03

Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $3.84B and VRX stock 52-week range is between $10.50 and $38.50 per share.

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