June 19 (Reuters) - Activist investor and hedge fund manager John Paulson has joined Valeant Pharmaceuticals International Inc's board, a move that comes at a time when the embattled Canadian drugmaker is restructuring itself to repay debt.
Valeant's U.S.-listed shares were up 5.9 percent at $13.40 in premarket trading on Monday.
Paulson's hedge fund Paulson & Co had a 5.68 percent stake in Valeant as of March 31, making it the largest shareholder in the company, according to Reuters data.
Paulson's addition increases the size of Valeant's board to 11 members, 10 of whom are independent.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty) ((firstname.lastname@example.org; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 2405; Reuters Messaging: email@example.com))
© Copyright Zawya. All Rights Reserved.