The following corporate finance-related stories were reported by media on Wednesday: * Actavis Inc received and rejected a takeover offer from Mylan Inc last week that valued the generic drugmaker at more than $15 billion, a person familiar with the situation told Reuters on Tuesday.* State-owned China Galaxy Securities Co Ltd priced its initial public offering at the lower end of the indicative price range, raising $1.1 billion, a source with direct knowledge of the matter said on Wednesday.
Actavis, Inc. formerly Watson Pharmaceuticals, Inc. Shares of ACT traded higher by 0.96% or $1.16/share to $121.68. In the past year, the shares have traded as low as $67.67 and as high as $125.00. On average, 1413580 shares of ACT exchange hands on a given day and today's volume is recorded at 3721089.
Mylan, Inc. develops and markets generics along with a number of proprietary drugs. Shares of MYL traded higher by 3.08% or $0.9/share to $30.10. In the past year, the shares have traded as low as $20.21 and as high as $31.22. On average, 5733330 shares of MYL exchange hands on a given day and today's volume is recorded at 9796054.
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