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12/4/2014
Allergan agrees to $66 billion Actavis offer; Valeant walks
Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.
Allergan agrees to $66 billion Actavis offer; Valeant walks

Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.

Dublin-based Actavis offered $219 per share in cash and stock, amounting to billions more than Canada's Valeant was prepared to pay. Valeant said it would walk away from its Allergan campaign shortly after the deal was announced. Ackman was not available for comment.

The deal marks a surprise win for Allergan, which had fought the Valeant-Pershing alliance in court and among shareholders in one of the healthcare sector's most complex takeover efforts.

http://www.reuters.com/article/2014/11/17/us-aller...

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