Noted investor Carl Icahn has acquired a small position of drugmaker Allergan, Bloomberg reports.
Here's what you should know:
1. Sources related to Mr. Icahn didn't disclose the reasoning behind or the size of his investment.
2. Mr. Icahn previously held a position in Allergan, which he sold in the first quarter of 2017.
3. The company has been losing value hand over fist since July 2017. To date, Allergan's stock has dropped 37.68 percent. When news of Mr. Icahn's investment broke, Allergan's stock traded up 3.3 percent.
4. Bloomberg said Mr. Icahn and Allergan CEO Brent Saunders have a long established history.