Teva (TEVA) and Barr (BRL) Receive FTC Second Request Regarding Pending Acqusition
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Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and Barr Pharmaceuticals, Inc. (NYSE: BRL) announced today that, as expected, each party has received a second request from the U.S. FTC in connection with Teva's pending acquisition of Barr.
The effect of the second request is to extend the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period until thirty days after the parties have substantially complied with the request, unless that period is terminated sooner by the FTC. The companies continue to expect that the transaction will close in late 2008
Teva Pharmaceutical Industries Limited develops, manufactures, and markets generic and human pharmaceuticals, as well as active pharmaceutical ingredients (APIs) in North America, Europe, Latin America, Asia, and Israel.
Barr Pharmaceuticals, Inc. engages in the development, manufacture, and marketing of generic and proprietary pharmaceuticals.
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