Pershing Square and Valeant reach agreement on settlement split

(Reuters) - Activist investor William Ackman's Pershing Square said on Friday it had reached an agreement with Valeant Pharmaceuticals to split settlement costs of a lawsuit related to Allergan Plc.

Pershing Square said Valeant will now pay around 33 percent, or $96.25 million, of the settlement costs. Valeant had previously agreed to pay 60 percent of the costs.

(Reporting by Manas Mishra in Bengaluru; Editing by Maju Samuel)