Forest Laboratories (FRX) In Talks to Be Acquired by Actavis (ACT) for $25 Billion
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Actavis plc (NYSE: ACT) is in advance talks to acquire Forest Laboratories, Inc. (NYSE: FRX) in a deal that could be worth up to $25 billion, according to sources cited by the Wall Street Journal late Monday.
A deal is expected to be announced Tuesday, but has not been finalized and can still fall apart, the Journal said.
The deal would be the second largest for a U.S. public company in 2014, behind last week's $45.2 billion Comcast deal to acquire Time Warner Cable.
Activist investor Carl Icahn, Forest Laboratories' second largest shareholder, is likely pleased with the proposed sale. Icahn has been pushing for changes at the company since 2011. Those change likely contributed to today's deal.
Forest Laboratories is a leading, fully integrated, specialty pharmaceutical company largely focused on the United States market. The Company markets a portfolio of branded drug products and develops new medicines to treat patients suffering from diseases principally in the following therapeutic areas: central nervous system, cardiovascular, gastrointestinal, respiratory, anti-infective, and cystic fibrosis. Our strategy of acquiring product rights for development and commercialization through licensing, collaborative partnerships, and targeted mergers and acquisitions allows us to take advantage of attractive late-stage development and commercial opportunities, thereby managing the risks inherent in drug development.
A deal is expected to be announced Tuesday, but has not been finalized and can still fall apart, the Journal said.
The deal would be the second largest for a U.S. public company in 2014, behind last week's $45.2 billion Comcast deal to acquire Time Warner Cable.
Activist investor Carl Icahn, Forest Laboratories' second largest shareholder, is likely pleased with the proposed sale. Icahn has been pushing for changes at the company since 2011. Those change likely contributed to today's deal.
Forest Laboratories is a leading, fully integrated, specialty pharmaceutical company largely focused on the United States market. The Company markets a portfolio of branded drug products and develops new medicines to treat patients suffering from diseases principally in the following therapeutic areas: central nervous system, cardiovascular, gastrointestinal, respiratory, anti-infective, and cystic fibrosis. Our strategy of acquiring product rights for development and commercialization through licensing, collaborative partnerships, and targeted mergers and acquisitions allows us to take advantage of attractive late-stage development and commercial opportunities, thereby managing the risks inherent in drug development.
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