World Economy

US Co. Near Buyout

US Co. Near BuyoutUS Co. Near Buyout

Allergan Inc is close to a buyout deal worth up to $65.5b by Actavis Plc, one that could end months of pursuit by Canada’s Valeant Pharmaceuticals and William Ackman’s hedge fund, Pershing Square Capital Management, according to a person familiar with the matter. Actavis may pay Allergan between $215 and $220 per share, with the final price likely coming at the high end of that range, Reuters reported. If such a price materializes, it will likely put Botox maker Allergan out of Valeant’s reach, despite the drugmaker’s willingness to raise its cash and stock offer above a current value of about $54b the source said.