Shareholders approve Actavis' planned acquisition of Allergan

Shareholders of Actavis and Allergan today approved all proposals related to Actavis’ planned acquisition of Allergan, the companies announced in a press release.

The shareholder approvals satisfy some conditions of the closing of the transaction, which is expected to occur late in the first quarter or early in the second quarter of 2015, according to the release. In November, Actavis announced plans to acquire Allergan in a transaction valued at $66 billion, or $219 per share in cash and Actavis shares.

Actavis announced in February that it intends to adopt Allergan as its corporate name and for its global branded pharmaceutical portfolio. However, select geographic regions and product portfolios will retain the Actavis name, according to a separate press release at that time.

References: www.actavis.com, www.allergan.com.