Actavis plc Buying Allergan In $66 Billion Deal

is acquiring

for $66 billion or $129 per share, thus avoiding being acquired by

and Pershing Square, according to CNBC's David Faber.

Valeant has said it cannot justify paying that price. This likely ends the ongoing sage between Bill Ackman of Pershing Square and Allergan. Shares of Allergan were trading higher by 7 percent at $212.70, while shares of Actavis were higher by 3.7 percent at $252.80.