Instead of Mylan, Teva opts for Allergan's generics business (Actavis Generics), paying $40.5bn, deal value later reduced to $38.8bn

Months after announcing a hostile bid to buy Mylan NV to create what could have been the second-leading generics company globally, Teva Pharmaceutical Industries Ltd. agreed to acquire Allergan PLC's generic business (Actavis Generics) for $40.5bn--$33.75bn in cash and $6.75bn in Teva stock. Concurrently, Teva officially withdrew its offer for Mylan, which had rejected it anyway. (Mylan is still pursuing its own hostile takeover of Perrigo.)