Last $214.00 USD
Change Today +1.90 / 0.90%
Volume 1.6M
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As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

allergan inc (AGN) Key Developments

Actavis plc, Allergan Inc. - M&A Call

To discuss the acquisition of Allergan by Actavis

Fda Approves New Styles of Allergan Inc.'s Natrelle 410 Highly Cohesive Anatomically Shaped Silicone-Filled Breast Implants

Allergan Inc. announced that the company has received approval from the U.S. Food and Drug Administration (FDA) to market two new styles, X and L, of the Natrelle(R) 410 Highly Cohesive Anatomically Shaped Silicone-Filled Breast Implants for use in breast reconstruction, augmentation and revision surgery. The Natrelle(R) 410 X and L styles provide surgeons additional options to customize their patients' fit by matching the implant's height and width with the patient's body type while providing optimal projection, based on the desired aesthetic outcome. The new Natrelle(R) 410 X styles provide extra full projection, while the new L styles feature low height and low projection. The entire line of Natrelle(R) 410 shaped gel implants are designed to mimic the slope of the breast and are filled with a highly cohesive silicone gel, which is intended to enable the implants to hold their shape over time while remaining soft to the touch. The FDA approval of the additional Natrelle(R) 410 shaped gel implant styles is based on 10-year data from a study of nearly 1,000 women who underwent breast reconstruction, augmentation or revision surgery with the previously approved range of Natrelle(R) 410 breast implants. Natrelle(R) 410 breast implants are the most selected shaped gel implants in the United States and are one of the most extensively studied shaped gel implants.

Allergan, Inc. Amends its Bylaws that Streamline the Process Associated with Calling a Special Meeting of Stockholders

Allergan Inc. announced that its Board of Directors has approved amendments to the company's bylaws that streamline the process associated with calling a special meeting of stockholders. The Board determined to amend the bylaws after meetings with many of the company's major stockholders and other governance organizations to solicit their input and perspectives. Following these meetings, the Board reached the conclusion that the benefits of certain provisions of the bylaws, as previously formulated, were outweighed by the associated administrative burdens. The amendments announced underscore Allergan's commitment to good corporate governance and incorporate the direct feedback of the company's stockholders. The amended and restated bylaws include the following revisions to the section on stockholder requested special meetings: Reduce the information requirement for a Proposing Person (as defined in the bylaws) by removing certain disclosure requirements regarding the Proposing Person and eliminating the requirement that the Proposing Person make disclosures regarding participants, associates and others acting in concert with the Proposing Person; Remove the requirement that a Proposing Person must hold shares of common stock of Allergan in record name in order to sign a request for a special meeting; Eliminate the requirement that a Proposing Person update the information provided as of ten business days before the date of a requested special meeting and give a Proposing Person eight business days (increased from five business days) after the record date for a requested special meeting to update the information provided (as the only update required); and Require the Board to call a requested special meeting within ninety days of receipt of one or more valid requests, rather than giving the Board full discretion to determine the timing of a requested special meeting.

Ackman Urges Allergan To Open Sale Process

Valeant Pharmaceuticals International, Inc. (TSX:VRX) can pay substantially more for Allergan Inc. (NYSE:AGN). Bill Ackman, biggest shareholder of Allergan said, "We understand that you may have been reluctant to begin discussions with Valeant in that such discussions could have led to a large increase in its stock price, making it difficult for others to be competitive with a Valeant cash and stock offer. Much the same way, by beginning exclusive negotiations with Actavis, you are tipping the scales in Actavis' favor, disadvantaging Valeant and discouraging it from raising its offer." Bill Ackman then said that Allergan shouldn't favor either bidder until it's clear which one has the best offer. He urged the board to run an auction "where neither party is the favored bidder and both are encouraged to offer maximum value - before any obligation to pay a breakup fee is incurred."

Allergan Inc. Declares Third Quarter Dividend, Payable on December 11, 2014

Allergan Inc. declared a third quarter dividend of $0.05 per share, payable on December 11, 2014 to stockholders of record on November 20, 2014.

 

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