Allergan Enters Agreement to Acquire MAP Pharmaceuticals for $958 Million

Irvine, Calif.-based Allergan Inc. and MAP Pharmaceuticals Inc. Jan. 22 announced that they have a definitive merger agreement under which Allergan will acquire MAP for approximately $958 million.

MAP Pharmaceuticals, which is based in Mountain View, Calif., is a biopharmaceutical company that develops and commercializes new therapies in neurology, including Levadex (dihydroergotamine), an orally inhaled drug for the potential acute treatment of migraine in adults. Levadex is under review by the Food and Drug Administration.

The companies said the transaction, which has been unanimously approved by the boards of directors of both companies, will be accomplished with a cash tender ...