Feb 18 Generic drugmaker Actavis Plc
said it would acquire specialty pharmaceuticals company Forest
Laboratories Inc in a cash and stock deal valued at
about $25 billion.
Actavis will pay the equivalent of $89.48 per share,
representing a premium of 25 percent to Forest's Friday close.
The offer comprises $26.04 in cash and 0.3306 Actavis shares
for every Forest share.
Dublin-based Actavis, whose biggest competitors include Teva
Pharmaceuticals Industries Ltd and Mylan Inc,
has recently been acquiring specialty branded drug makers to
boost profit margins and sales.
Forest, which acquired privately held drugmaker Aptalis in
January for $2.9 billion, faces a patent cliff on several of its
biggest drugs, including Alzheimer's treatment Namenda.
(Reporting by Esha Dey in Bangalore; Editing by Saumyadeb