Allergan confirms acquisition talks with Pfizer
After a morning of speculation, Ireland-headquartered Allergan (NYSE: AGN) today confirmed that it has been approached by pharma giant Pfizer (NYSE: PFE) and is in preliminary friendly discussions regarding a potential business combination transaction.
Allergan stated that no agreement has been reached and there can be no certainty that these discussions will lead to a transaction, or as to the terms on which a transaction, if any, might be agreed. The company will not comment on speculation regarding the terms of a potential transaction. Pfizer also confirmed the talks.
Under any potential scenario with Pfizer, Allergan remains strongly committed to complete the proposed $40.5 billion divestment of its global generics business to Teva Pharmaceutical Industries and expects the generics divestiture transaction to close in the first quarter of 2016. A further announcement will be made when appropriate.
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