Latham-Led Actavis Pays $25B For Icahn-Backed Forest Labs

Law360, New York (February 18, 2014, 11:17 AM EST) -- Generic-drug maker Actavis PLC said Tuesday it would swallow Forest Laboratories Inc. in a cash-and-stock deal worth $25 billion that delivers a major win for activist investor Carl Icahn, one of Forest's biggest investors and a vocal proponent for change at the company.

Under the deal's terms, stockholders in New York-based Forest will receive a payout valued at $89.48 per share, including $26.04 in cash and the balance in Actavis shares. The consideration is good for a 25 percent premium over Forest's close on Friday, the...
To view the full article, register now.