Teva Pharmaceutical Industries Limited Acquisition Of IVAX Corporation Deal Closing Delayed

JERUSALEM & MIAMI--(BUSINESS WIRE)--Jan. 10, 2006--Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and IVAX Corporation (AMEX: IVX) announced today that the closing date of the merger has been rescheduled. The U.S. Federal Trade Commission (“FTC”) is continuing to review the consent order which Teva and IVAX signed in connection with the pending acquisition of IVAX. While the FTC review is continuing through its ordinary course, the transaction cannot be closed without the acceptance of the consent order by the Commissioners of the FTC, and such acceptance has not as yet been obtained. Teva and IVAX have no reason to believe that the acceptance will not be forthcoming shortly, and expect to close the merger later this month. Teva and IVAX will promptly announce the acceptance by the FTC of the consent order upon its receipt, and will schedule the closing for the third business day following such announcement.

MORE ON THIS TOPIC