Deals
Actavis to Buy Allergan for $66 Billion, Tops Valeant Bid
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Actavis Plc agreed to pay about $66 billion for Allergan Inc., the maker of the anti-wrinkle treatment Botox, in the year’s biggest pharmaceutical deal.
The cash-and-stock purchase, in which Actavis will pay $219 a share, also puts an end to Valeant Pharmaceuticals International Inc.’s months-long hostile takeover fight for Allergan, a move backed by activist investor Bill Ackman.