Actavis plc and Forest Laboratories, Inc. report that their respective shareholder meetings held June 17, 2014, all proposals related to Actavis’ planned $25-billion acquisition of Forest were approved by both Actavis’ and Forest’s shareholders.

Actavis’ and Forest’s shareholder approvals satisfy certain conditions to the closing of the transaction.  The closing of the transaction remains subject to certain regulatory approvals and other customary closing conditions and is expected to occur at mid-year.

In February 2014, Actavis agreed to acquire Forest Laboratories for approximately $25 billion. When approved, the combined specialty pharmaceutical company would have combined annual sales of approximately $15 billion.

Source: Actavis