Actavis makes final, $1.85B bid for Pliva

Acquisitive Icelandic generic drugmaker Actavis has made an improved offer to acquire all the outstanding shares of Pliva on the Zagreb Stock Exchange and all the Pliva Global Depositary Receipts on the London Stock Exchange (Marketletter April 3). The revised proposal is 630 Croatian kunas ($106.3) in cash per share and values Pliva at approximately $1.85 billion. Actavis says that this is the final revision to its offer, noting that it represents an 11% increase to its previous bid and a 40% premium to the Croatian drugmaker's share price on March 7, the day before rumors of its acquisition began.