Allergan agrees to Actavis deal for $66 billion

Mon Nov 17, 2014 9:20am EST
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Nov 17 (Reuters) - Allergan Inc agreed to be bought by Actavis Plc for $66 billion, more than $12 billion above the current value of a hostile bid by activist investor William Ackman and Valeant Pharmaceuticals International Inc .

The offer values Allergan at $219 per share, compared with its Friday close of $198.65. Valeant's latest cash-and-stock offer is currently worth about $54 billion. (Reporting by Caroline Humer; Additional reporting by Amrutha Penumudi in Bangalore; Editing by Bernadette Baum)