Allergan, Actavis deal

Actavis said it will acquire Allergan for $66 billion, or $219 per share. The price represents a 10% premium to Allergan’s closing price of $198.65 on Nov. 14, before the deal was announced. The deal is expected to close in 2Q15. Allergan shareholders will receive $129.22 in cash and 0.3683 Actavis shares per Allergan share. Actavis President and CEO Brent Saunders will lead the combined company. Specialty pharma Allergan reported $5.3 billion in sales for the nine months ended Sept. 30, and generics company Actavis reported $9 billion in the same period. ...