Deals
Actavis to Buy Forest Laboratories for $25 Billion
This article is for subscribers only.
Actavis Plc, the world’s second-largest generic-drug maker by market value, agreed to buy Forest Laboratories Inc. for about $25 billion in a deal that will transform it into a developer of brand-name drugs.
The deal is a win for billionaire investor Carl Icahn, Forest’s second-largest holder who gained seats on the company’s board in 2012 and 2013, and pushed for a sale. Forest investors will get cash and stock valued at $89.48 a share, based on the Feb. 14 closing price, the companies said today in a statement.