This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Allergan Extends Inamed Offer

Allergan (AGN), the maker of the Botox injection, extended the deadline for its tender offer to Inamed (IMDC) shareholders after antitrust approval of the companies' merger was delayed.

According to the offer, Allergan will give Inamed shareholders the choice of either $84 in cash or 0.8498 of an Allergan share. Shares of Allergan were trading 82 cents lower at $112.16 Monday. Inamed shares dipped 33 cents to $89.93.

The exchange offer was initially scheduled to expire on Tuesday but will now end Feb. 22. As of last Friday, about 52.4% of Inamed's shares had been tendered.

Last week, as Allergan reported its quarterly earnings , it wouldn't provide specifics on the effect of the Inamed deal, but said it expected the acquisition's impact to be neutral.

In order to facilitate antitrust approval, Allergan and Inamed plan to give up Inamed's license for the wrinkle-fighting drug Reloxin, which is similar to Botox.

"We look forward to reaching a successful outcome in the U.S. antitrust review of the Inamed acquisition. Meanwhile, we are working diligently on a comprehensive integration plan," said David E.I. Pyott, Allergan's chairman and CEO.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AGN $240.22 1.21%
IMDC $0.04 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs