In the end, R&D sealed the deal. Allergan Inc. rejected the hostile overtures of one giant specialty pharma for a deal with another, fleeing from Valeant Pharmaceuticals International Inc. into the waiting arms of Actavis plc.
Actavis will acquire Irvine, Calif.-based Allergan for a combination of $129.22 in cash and 0.3683 Actavis shares for each of Allergan's common shares. Based on the Dublin-based pharma's closing price of $243.77 per share (NYSE:ACT) on Friday, the transaction is valued at approximately $66 billion, or $219 per Allergan share.
After the deal was disclosed Monday morning, shares of Actavis hit a 52-week high of $255