The billionaire Björgólfur Thor Björgolfsson says that taking Iceland's Actavis private would give the generic drug giant a key competitive advantage in the ongoing global consolidation of the industry. His investment group Novator is making a $3.6 billion dollar bid to do just that in buying out all other Series A stockholders. The proposed buyout comes after Actavis failed to nail either Merck KGaA's generic subsidiary or Pliva in recent takeover talks. Actavis' management has voiced concerns that its position as a public company forced it to reveal sensitive information while bidding on the other companies.
- see the release from Actavis on the bid
- read the report on Actavis from the Financial Times