Actavis Nabs Allergan For $66 Billion; Valeant Folds
One of the most widely rumored deals in pharma came to fruition Monday, as Actavis (ACT) agreed to acquire Allergan (AGN) for $66 billion in cash and stock. Allergan stock was up more than 7%, near 213, and Actavis stock up nearly 4%, near 253, in early trading in the stock market today. Actavis agreed to pay $129.22 in cash along with 0.3683 Actavis share for each share of Allergan, which based on Actavis’ Friday closing price values Allergan at