Actavis becomes white knight for Allergan; buys firm for $65bn
Executive Summary
After battling Valeant Pharmaceuticals International Inc. for nearly seven months, Allergan Inc. (specialty pharmaceuticals and aesthetic devices) found another buyer willing to pay more: Actavis PLC will spend $65 billion, or $219.54 per share ($129.22 in cash and 0.3683 in Actavis shares; a 75% premium to Allergan’s ten-day average prior to the initial Valeant announcement). Valeant stated it is reviewing the Allergan/Actavis agreement to determine its next course of action, but cannot justify paying more than $219 per share.
Deal Industry
- Pharmaceuticals
-
Pharmaceuticals
- OTC, Consumer
- Specialty Pharmaceuticals
-
Drug Delivery
- Controlled Release
- Site Specific
-
Medical Devices
- Implantable Devices
- Surgical Equipment & Devices
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Includes Contract
- Payment Includes Cash for Equity
- Payment Includes Stock
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