Actavis to buy Forest for $25 billion; windfall for investor Icahn

[riky]

Actavis to buy Forest for $25 billion; windfall for investor Icahn

<p><a href="http://news.yahoo.com/actavis-buy-forest-labs-25-billion-deal-130342077--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/bV1vGidltx0NaRMemMfsWQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-02-18T171953Z_1_CBREA1H109100_RTROPTP_2_APPLE-ICAHN.JPG" width="130" height="86" alt="Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York" align="left" title="Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York" border="0" /></a>Generic drugmaker Actavis Plc said on Tuesday it would buy Forest Laboratories Inc for about $25 billion in cash and stock, giving it a major focus on higher-margin, branded treatments for Alzheimer's, hypertension and other disorders. The deal also means a major payday for activist investor Carl Icahn, the second-largest shareholder at Forest Labs, who waged two proxy battles and threatened a third to change its leadership and strategy. Actavis said it would pay the equivalent of $89.48 per share, representing a premium of 25 percent to Forest's closing price on Friday. The offer comprises $26.04 in cash and 0.3306 Actavis share for every Forest share.</p><br clear="all"/>

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