Actavis Plc agreed to pay about $66 billion for Allergan Inc., after the maker of Botox turned to the drugmaker to repel a hostile advance from Valeant Pharmaceuticals International Inc.

Actavis will pay $219 a share in cash and stock for Irvine, California-based Allergan, the companies said in a statement today. The price is 10 percent above Allergan’s closing level on Nov. 14, and the offer includes a higher percentage of cash than Valeant’s bid.

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