Allergan can finally sell its losing stake in Teva. Will it?
Allergan, which acquired a 9.9% stake in the Israeli drugmaker last year as part of the pair’s $40 billion-plus generics deal, currently stands as Teva’s largest shareholder. Those shares, worth $5.3 billion when Allergan acquired them, have been locked down for the last year, with Allergan unable to sell them, Israeli newspaper Globes reports. And in that time, they’ve dropped more than $2 billion in value to $3.2 billion. As of Wednesday, though, Allergan—which has said it wasn’t a “long-term holder” of Teva’s stock—can do as it pleases. So far, it hasn’t said whether it plans to dump the stake this year, w...
