Allergan Inc. (AGN) announced Monday morning that it agreed to be acquired by Actavis Plc. (ACT) for a combination of $129.22 in cash and 0.3683 Actavis shares for each share of Allergan common stock. The transaction is valued at approximately $66 billion.
Allergan gapped open sharply higher Monday, but traded in a range for the bulk of the session. The stock ended the day with a gain of 10.55 at $209.20 on the highest volume in 7 months. Allergan broke out of a 2-week range and set a new high for the year.
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