November 17, 2014
Actavis plc and Allergan, Inc. have announced a definitive agreement under which Actavis will acquire Allergan in a cash and stock transaction valued at approximately $66 billion. The combination will create one of the top 10 global pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23 billion anticipated in 2015. The transaction, which has been unanimously approved by the Boards of Directors of Actavis and Allergan, is subject to the approval of the shareholders of both companies, as well as customary antitrust clearance in the US, the EU and certain other jurisdictions, and is anticipated to close in the second quarter of 2015.
Latham & Watkins LLP represents Allergan in the transaction with a corporate team led by partners Cary Hyden, Paul Tosetti and Michael Treska, with associates Daniel Rees and Aneta Ferguson. Hyden, Treska, Rees and Ferguson are based in Orange County, CA; and Tosetti in Los Angeles. Advice has also been provided on antitrust matters by partners Karen Silverman and Joshua Holian in San Francisco, with counsel Sydney Smith in Washington, D.C.; on benefits and compensation matters by partner Jim Barrall in Los Angeles and associate Maj Vaseghi in Silicon Valley; on environmental matters by partner Christopher Norton in Orange County; on finance matters by partner Glen Collyer in Los Angeles; on intellectual property matters by counsel David Kuiper in Orange County; on regulatory matters by partner John Manthei in Washington, D.C. with counsels Betty Pang in San Francisco and Rebecca Brandt in Houston; and on tax matters by partner Laurence Stein and associate Eric Song in Los Angeles.