Actavis Announces Deal to Acquire Botox Maker Allergan for $66B

Actavis is finalizing a $66 billion deal to buy Botox-maker Allergan for a combination of cash and stock.
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Actavis is finalizing a $66 billion deal to buy Botox-maker Allergan for a combination of cash and stock. The deal could see off the rival takeover by Valeant Pharmaceuticals, which was offering $54 billion to acquire Allergan. The alternative merger with Irish pharmaceutical company Actavis is expected to generate an anticipated revenue of more than $23 billion in 2015. The acquisition is scheduled to be finalized in the second quarter of 2015 and will create one of the top 10 global pharmaceutical companies by sales revenue. The Actavis deal is expected to pay shareholders around $219 a share. Stocks in California-based Allergan were up on Monday following the news.