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Watson Pharmaceuticals Said Close To Buy Of Actavis For $7 Billion -Reuters

DOW JONES NEWSWIRES U.S.-based Watson Pharmaceuticals Inc. (WPI) is nearing a deal to buy Swiss generic drug maker Actavis Group for about $7 billion, Reuters reported Wednesday, citing three people familiar with the matter. Watson would pay between EUR5 billion and EUR5.5 billion in the transaction for Actavis, sources said. By virtue of a leveraged buyout in 2007, Deutsche Bank AG (DB) was left holding billions of euros in Actavis debt. Spokesmen for Watson, Actavis and Deutsche Bank declined comment to Reuters. Full story at: -Dow Jones Newswires; 212-416-2900

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