Watson (WPI) Gets Second Request from FTC on Actavis Group Acquisition
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Watson Pharmaceuticals, Inc. (NYSE: WPI), announced that it has received a request for additional information from the Federal Trade Commission ("FTC") in connection with Watson's pending acquisition of Actavis Group. The information request was issued under notification requirements of the Hart.Scott Rodino Antitrust Improvements Act of 1976, as amended ("HSR Act"). The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Watson and Actavis have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Watson intends to cooperate fully with the FTC's review and continues to expect the transaction to close in the fourth quarter of 2012.
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