Allergan is reportedly in takeover talks with Actavis

7 November 2014

Botox maker Allergan (NYSE: AGN) is reportedly in merger talks with Ireland-headquartered generics major Actavis (NYSE: ACT), sources close to the matter have said.

In a filing with the US Securities and Exchange Commission, Allergan said it has been approached by “another party regarding a potential merger transaction," which Bloomberg has reported as Actavis.

The news comes amid an on-going dispute over a potential $54 billion buyout from Quebecois pharma company Valeant (NYSE: VRX). Just last month Allergan reported strong quarterly results, prompting Michael Pearson, chairman and chief executive of Valeant, to comment: “Allergan would not be trading anywhere near where it is absent our offer, and our offer, even at Valeant's current stock price, represents a very substantial premium.”

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