Apple Inc. to Buy Beats Electronics for $3B while Allergan Receives Hostile Bid from Valeant

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05/29/2014 [ACCESSWIRE]

Allergan Inc. (NYSE: AGN) shares closed down 5.39% on Wednesday with about 12 million shares traded after Valeant raised its hostile bid on the company. Valeant added $10 a share in cash to last month's original offer of $48.30 plus 0.83 of a Valeant share for each Allergan share, coming to a total of $49.4 billion.

Allergan, Inc. operates as a multi-specialty health care company primarily in the United States, Europe, Latin America, and the Asia Pacific. The company discovers, develops, and commercializes pharmaceutical, biological, medical device, and over-the-counter products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological, and other specialty markets.

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Apple Inc. (NASDAQ: AAPL) shares sailed to a new 52-week high of $629.83 during intra-day trading on Wednesday. The company announced that it will be buying Beats Electronics LLC for $3 billion. The company will continue to use the Beats brand.

Apple Inc. and its wholly-owned subsidiaries design, manufacture, and market mobile communication and media devices, personal computers, and portable digital music players worldwide. It also sells software, services, peripherals, networking solutions, and third-party digital content and applications related to its products.

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