Botox maker bought for $66 billion

NEW YORK. KAZINFORM - This is going to raise some eyebrows.

Allergan (AGN), the company behind Botox, agreed to be acquired on Monday for $66 billion by pharmaceutical giant Actavis (ACT). It's the biggest deal so far in 2014, CNN reports. The tie-up would make the combined company one of the largest drug makers in the world, with $23 billion in annual sales. That's not as big as Merck (MRK), but it puts the newly combined company in the top 10. That may explain why the stocks of both companies rallied on the news. The Botox maker has been a hot corporate date this year. Valeant Pharmaceuticals (VRX) teamed up with billionaire investor Bill Ackman to offer $53 billion to acquire Allergan earlier this year. However, Valeant said it "cannot justify" the lofty price tag Actavis agreed to. Long known for its generic drugs, Dublin-based Actavis has been wheeling and dealing a lot this year to reshape its business. In July, Actavis completed a $25 billion takeover of Forest Labs, the maker of Alzheimer's and blood-pressure treatments.

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