Canadian drugmaker Valeant Pharmaceuticals International, Inc. (VRX,VRX.TO) is said to be in discussions to acquire rival Actavis Inc. (ACT) for over $13 billion, according to the Wall Street Journal.
While the companies were working towards an all-stock deal announcement, few Actavis' directors were against it around the middle of this week. But the executives on both sides are still working to resurrect the deal, the journal added.
In February, Valeant announced that it was in talks to make more acquisitions, and it remains open to discuss a potential "merger of equals". Actavis currently has a market value of nearly $13 billion.
by RTT Staff Writer
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