WASHINGTON (dpa-AFX) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) today said Friday that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of Allergan, Inc. (AGN) to 5:00 p.m., New York City time, on December 31, 2014.
The exchange offer was previously scheduled to expire at 5:00 p.m., New York City time today, Friday, August 15, 2014.
All other terms and conditions of the exchange offer remain unchanged.
As of 9:00 a.m., New York City time, on August 15, 2014, a total of about 12,509,606 shares of Allergan common stock were validly tendered and not properly withdrawn in the exchange offer, Valeant said.
On June 18, Valeant commenced the exchange offer for Allergan common stock, taking its May 30th proposal directly to Allergan stockholders. Pursuant to the offer, Allergan stockholders can elect to exchange each of their Allergan shares for $72.00 in cash and 0.83 Valeant common shares, or an amount of cash, or a number of Valeant common shares, in each case subject to proration.
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