Generic and specialty drugmaker Actavis agreed to acquire Allergan for more than $66 billion on Monday, potentially creating a pharmaceutical giant with $23 billion in annual sales and a market cap around $147 billion. Actavis (ACT) will pay $129.22 plus 0.3683 Actavis share for each share of Allergan (AGN). That’s equal to $220.54 based on Monday’s closing price. It is appreciably above the hostile bid that Valeant Pharmaceuticals
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
The drug-industry rumor mill got a fresh surge of energy Wednesday on a report that emerging drug giant Actavis (ACT) is nearing a deal to buy Botox maker Allergan (AGN) for at least $60 billion. Reports that the two companies were talking have been leaking out for a couple months now, and the subject was a major, if unnamed, topic of Actavis’ Q3 earnings call last week. However, Bloomberg’s latest report has anonymous sources saying an agreement