IRVINE, Calif. & SANTA BARBARA, Calif.--(BUSINESS WIRE)--Dec. 20, 2005--Allergan, Inc. (NYSE:AGN) and Inamed Corporation (NASDAQ:IMDC) announced today that the companies have entered into a definitive agreement and plan of merger regarding the acquisition of Inamed by Allergan. Pursuant to the definitive merger agreement and consistent with the exchange offer previously commenced by Allergan, Allergan will exchange for each outstanding common share of Inamed, either $84 in cash or 0.8498 of a share of Allergan common stock, at the election of the holder. Elections of Inamed stockholders are subject to proration as described in Allergan’s Form S-4 initially filed with the Securities and Exchange Commission (SEC) on November 21, 2005, and subsequently amended, so that 45% of the aggregate Inamed shares tendered will be exchanged for cash and 55% of the aggregate Inamed shares tendered will be exchanged for shares of Allergan common stock.
