Allergan near buyout deal of up to US$65b to escape Valeant, Ackman: source

New York

ALLERGAN Inc is close to a buyout deal worth up to US$65.5 billion by Actavis plc, one that could end months of pursuit by Canada's Valeant Pharmaceuticals and William Ackman's hedge fund, Pershing Square Capital Management, according to a person familiar with the matter.

Actavis may pay Allergan between US$215 and US$220 per share, with the final price likely coming at the high end of that range, according to the source. A deal could be announced as early as Monday, the source added.