Botox maker Allergan Inc on Monday accepted a $66 billion takeover bid from Actavis Plc , ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc.Dublin-based Actavis offered $219 per share in cash and stock, amounting to billions more than Canada's Valeant was prepared to pay. Valeant said it would walk away from its Allergan campaign shortly after the deal was announced. Ackman was not available for comment.The deal marks a surprise win for Allergan, which had fought the Valeant-Pershing alliance in court and among shareholders in one of the healthcare sector's most complex takeover efforts.Allergan shares rose 5.3 percent to close at $209.20. Actavis gained 1.7 percent to $247.94.
Shares of ACT traded higher by 1.71% or $4.17/share to $247.94. In the past year, the shares have traded as low as $156.40 and as high as $254.41. On average, 2179940 shares of ACT exchange hands on a given day and today's volume is recorded at 16682972.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN traded higher by 5.31% or $10.55/share to $209.20. In the past year, the shares have traded as low as $94.98 and as high as $200.99. On average, 2296180 shares of AGN exchange hands on a given day and today's volume is recorded at 19119344.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 1.88% or $2.52/share to $136.73. In the past year, the shares have traded as low as $105.17 and as high as $153.10. On average, 2526030 shares of VRX exchange hands on a given day and today's volume is recorded at 8828430.
Valeant Pharmaceuticals International, Inc., formerly Biovail Corporation, is a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Shares of VRX traded higher by 1.93% or $2.93/share to $154.40. In the past year, the shares have traded as low as $110.26 and as high as $170.45. On average, 468460 shares of VRX.TO exchange hands on a given day and today's volume is recorded at 800150.
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