Allergan, Actavis Near Deal ($62.5b) Companies’ Boards to Meet to Bless Cash-Stock Transaction By JONATHAN D. ROCKOFF, DANA MATTIOLI and LIZ HOFFMAN
Actavis PLC and Allergan Inc. are nearing a friendly deal that could swipe the Botox maker from hostile suitor Valeant Pharmaceuticals International Inc., according to people familiar with the matter.
The boards of the two companies are expected to meet to review a cash-and-stock deal, the people said. An agreement could be announced as early as Monday, some of the people said, but timing could slip and one person said later in the week could be more likely.
An agreement could thwart the monthslong efforts of Valeant and activist investor William Ackman to jointly take over Allergan, the maker of Botox. Their most recent bid was $53 billion in cash and stock, though Valeant has entertained boosting it.
Actavis Said Near Deal to Buy Allergan for More Than $210-Share By David Welch Nov 16, 2014 2:37 PM ET -
Actavis Plc (ACT) is close to a deal to buy Allergan Inc. for more than $62.5 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 tomorrow, said the people, who asked not to be named because the information is private. Actavis will pay a little more than $210 a share in cash and stock for Allergan, one of the people said. Actavis’s bid includes a higher percentage of cash than Valeant’s current offer, that person said.
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