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Actionable news in AGN: ALLERGAN Inc,

More Squawk From Jim Cramer: Allergan (AGN) Stock Rallying on Potential New Deals

NEW YORK (TheStreet) -- Allergan (AGN - Get Report) stock is rebounding 3.85% to $245.12 on heavy trading volume this morning even though Pfizer (PFE) terminated the companies' pending merger following new U.S. regulations on inversions.

Pfizer needed Allergan, TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning, emphasizing that Pfizer was willing to pay $160 billion for its rival.

"How much was desperation by [Pfizer CEO] Ian Read to finally get some growth out of that company?" Cramer wondered.

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Pfizer stock is...