Allergan agrees to $66 billion Actavis deal, Valeant walks: Reuters

Allergan Inc has agreed to be bought by Actavis Plc for US$66 billion, putting an end to a hostile bid by hedge fund investor William Ackman and Canada's Valeant Pharmaceuticals International Inc, Reuters reported. The deal comes after Allergan spent six months maneuvering against a takeover by Ackman's Pershing Square Capital Management and Valeant.

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