Actavis Enters the Allergan Buy-Out Game as Allergan Fights Valeant's Hostile Bid

Nov 12, 2014

Bloomberg

According to Bloomberg sources, Actavis is in talks to acquire Allergan Inc. for at least $60 billion, surpassing Valeant's highest proposed bid of $56 billion.

Bloomberg sources report that Allergan is seeking more than $210 a share while Actavis wants to pay closer to $200, but the two companies are working to narrow the gap.

Allergan, seeking to fend off a hostile bid from Valeant Pharmaceuticals, is trying to strike a deal before an investor meeting on Dec. 18, when shareholders will vote on Valeant and Ackman’s proposal to remove Allergan directors, with a plan to eventually replace them with those who more amenable to Valeant’s offer.

Generic drugmaker Actavis acquired Forest Laboratories for $25 billion last February, Silom Medical for $100 million in April , and Furiex Pharmaceuticals for $1.1 billion in July.

Read the Bloomberg story

Show Comments
Hide Comments

Join the discussion

We welcome your thoughtful comments.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments