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Teva Pharma (NYSE:TEVA) announced that it has signed a deal with Allergan ple to buy Allergan Generics for an estimated $40.5 billion.

Teva Pharma (NYSE:TEVA) announced that it has signed a deal with Allergan plc (NYSE:AGN) to buy Allergan Generics for an estimated $40.5 billion.
According to an article on StreetInsider.com:

Upon closing, Allergan will receive $33.75 billion in cash and shares of Teva valued today at $6.75 billion, representing an estimated under 10% ownership stake in Teva, with the number of Teva shares determined based on Teva’s volume weighted average trading prices during the 15 days prior to the announcement and five days following the announcement. Teva believes the acquisition will be significantly accretive to non-GAAP EPS, including expected double-digit non-GAAP EPS accretion in 2016 and more than 20% accretion in year two and year three following the close of the transaction. The transaction was unanimously approved by the Boards of Directors of Teva and Allergan and is expected to close in the first quarter of 2016.

Click here to read the full article on StreetInsider.com

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