$FRX In Talks to Be Acquired by $ACT for $25 Billion
Actavis plc (NYSE: ACT) is in advance talks to acquire Forest Laboratories, Inc. (NYSE: FRX) in a deal that could be worth up to $25 billion, according to sources cited by the Wall Street Journal late Monday.
A deal is expected to be announced Tuesday, but has not been finalized and can still fall apart, the Journal said.
The deal would be the second largest for a U.S. public company in 2014, behind last week's $45.2 billion Comcast deal to acquire Time Warner Cable.
Activist investor Carl Icahn, Forest Laboratories' second largest shareholder, is likely pleased with the proposed sale. Icahn has been pushing for changes at the company since 2011. Those change likely contributed to today's deal.
