8/11/2014 11:13:40 AM
IRVINE, Calif.--(BUSINESS WIRE)--Allergan, Inc. (NYSE: AGN) (“Allergan” or the “Company”) today announced that it received a request for additional information (a “Second Request”) under the Hart-Scott-Rodino Act from the U.S. Federal Trade Commission in connection with Valeant Pharmaceuticals International, Inc.’s unsolicited acquisition proposal of Allergan.
Allergan intends to respond fully in connection with the ongoing investigation. The Company noted that Second Request investigations typically take some time to conclude, and Allergan cannot predict how long this investigation will take or how it might otherwise develop.
The Company previously announced that Allergan’s Board of Directors unanimously determined that Valeant’s unsolicited exchange offer is grossly inadequate, substantially undervalues the Company, creates significant risks and uncertainties for Allergan stockholders, and is not in the best interests of the Company and its stockholders.
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