Teva ($TEVA) announced that it is commencing concurrent offerings totaling $6.75 billion, consisting of about $3.375 billion of its ADS, each representing 1 Teva ordinary share and about $3.375 billion of its mandatory convertible preferred shares. The company intends to use the net proceeds to fund its purchase of its previously announced acquisition of Allergan’s worldwide generic pharma business, Actavis Generics.