Teva lands Allergan generics business for $40.5B, drops hostile Mylan bid
Following months of chasing generics giant Mylan NV (MYL), Teva Pharmaceutical Industries Ltd. (TEVA) announced on Monday that it would acquire the generics business of Allergan plc (AGN) for $40.5 billion.
The deal will mean that Allergan will receive $33.75 billion in cash and shares of Jerusalem-based Teva, valued at $6.75 billion. The purchase of Allergan Generics represents a 10% ownership in Teva for Allergan.Â
Teva estimated that Allergan's generics business will provide $2...