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Valeant Pharmaceuticals International (VRX) in Talks to Buy Actavis for Over $13 Billion Put on Hold


4/29/2013 8:13:30 AM

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Canada's biggest listed drug maker, Valeant Pharmaceuticals International Inc (VRX.TO), is in talks to buy generic drugmaker Actavis Inc (ACT.N) for more than $13 billion, Wall Street Journal reported, citing people familiar with the matter. The companies had been working towards an all-stock deal, when some of Actavis' directors came out against it around the middle of this week. But executives on the two sides are still working to resurrect the deal, the journal said. Valeant said in February it was in talks to make more acquisitions, and it remains open to discuss a potential "merger of equals."

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