- Actavis (ACT) is in advanced negotiations to buy fellow pharmaceuticals provider Forest Laboratories (FRX) for up to $25B, the WSJ reports, adding that the deal could be announced today.
- The figure is above Forest's market cap of $19.3B at the close of trade on Friday and compares with Actavis' $33.4B.
- The acquisition would add to Actavis' recent purchase of Warner Chilcott and follow Forest's agreement in January to buy specialty-pharmaceutical company Aptalis Holdings.
- One reason for the tie-up is to allow the companies to better negotiate with customers amid consolidation between U.S. Hospitals, insurers and doctors.
- Carl Icahn could be set to benefit from the deal after he built up an 11.4% stake in Forest and successfully agitated for change in a bruising battle with the company's then management.
at CNBC.com (Nov 19, 2014)