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Actavis Inc To Acquire Warner Chilcott Plc


Monday, 20 May 2013 07:00am EDT 

Actavis Inc and Warner Chilcott plc announced they have entered into a definitive agreement under which Actavis will acquire Warner Chilcott plc in a stock-for-stock transaction valued at approximately $8.5 billion. The proposed transaction has been unanimously approved by the Boards of Directors of Actavis, Inc. and Warner Chilcott plc, and is supported by the management teams of both companies. At the close of the transaction (the Effective Date), which is expected by year-end 2013, Actavis and Warner Chilcott will be combined under a new company incorporated in Ireland, where Warner Chilcott is currently incorporated. The newly created company, which is expected to be called Actavis plc, or a variant thereof (New Actavis), will be led by the current Actavis leadership team. Under the terms of the Transaction Agreement, at closing Warner Chilcott shareholders will receive 0.160 shares of New Actavis for each Warner Chilcott share they own, which equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price of $125.50 on May 17, 2013. Actavis shareholders will receive one share of New Actavis for each Actavis share they own upon closing. Immediately after the close of the transaction, Warner Chilcott shareholders are expected to own approximately 23% of New Actavis. Shares of New Actavis are expected to trade on the New York Stock Exchange under the ticker symbol ACT. 

Company Quote

257.09
2.89 +1.14%
26 Dec 2014