Actavis Said Near $62.5 Billion Deal for Allergan

Actavis Plc is close to a deal to buy Allergan Inc. for more than $64 billion, a transaction that would help the maker of Botox rebuff a hostile advance from Valeant Pharmaceuticals International Inc., said people with knowledge of the matter.

A deal may be announced as soon as today, said the people, who asked not to be named because the information is private. Actavis will pay more than $215 a share in cash and stock for Allergan, one of the people said, a bid that includes a higher percentage of cash than Valeant’s current offer. The breakup fee is about $2 billion, another person said.