Actavis plc ACT is acquiring Allergan, Inc. AGN for $66 billion or $129 per share, thus avoiding being acquired by Valeant and Pershing Square, according to CNBC's David Faber.
Market News and Data brought to you by Benzinga APIsActavis to buy Allergan for $129 in cash and .3683 ACT share. Deal worth $219 at open of trading.
— DAVID FABER (@davidfaber) November 17, 2014
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.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in