Deals
Allergan Bears Wary That Acquirer Actavis Becomes Prey: Options
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A protracted bidding war for Allergan Inc. came to a close last month when Actavis Plc swooped in to clinch the deal for $66 billion. Options traders are concerned more twists are coming.
They’ve increased protection in Allergan in case Actavis itself becomes a target and the deal falls apart, says Keith Moore at MKM Partners LLC. Bearish puts in the maker of Botox cost the most ever versus bullish calls, data compiled by Bloomberg show.