Actavis, Allergan Set Shareholder Meeting for Actavis’ $66 Bn Acquisition of Allergan
Actavis and Allergan have scheduled their respective special meetings of shareholders in connection with Actavis’ pending $66-billion acquisition of Allergan for March 10, 2015. The Actavis shareholder meeting will be held in Dublin, Ireland, and the Allergan stockholder meeting will be held in Irvine, California.
The transaction, subject to shareholder approval and customary closing conditions, has been unanimously approved by the boards of directors of Actavis and Allergan and is supported by the management teams of both companies. If the deal proceeds as planned, a combined company of Actavis and Allergan would have 2015 pro forma revenues in excess of $23 billion, making it one of the top 10 global pharmaceutical companies. The transaction is anticipated to close in the second quarter of 2015. The combined company will be led by Brent Saunders, CEO and president of Actavis, and Paul Bisaro, who will remain as executive chairman of the board of Actavis.