Actavis announced on Monday that it will acquire Allergan for $66 billion, or $219 per share in cash and Actavis shares.
“Today’s transaction provides Allergan stockholders with substantial and immediate value, as well as the opportunity to participate in the significant upside potential of the combined company,” David E. I. Pyott, chairman and CEO of Allergan, said in a release.
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“This combination will greatly enhance our U.S. and international commercial opportunities,” said Paul Bisaro, executive chairman of Actavis.