Actavis plc (NYSE:ACT) and Forest Laboratories, Inc. (NYSE:FRX) today announced that the tentative election deadline for Forest stockholders to elect the form of consideration they wish to receive in Actavis’ planned acquisition of Forest is 5:00 p.m., Eastern time, on June 27, 2014 (the “Election Deadline”). The Election Deadline may be extended, in which case Actavis and Forest will issue a press release announcing the new election deadline. Subject to regulatory approval and other customary closing conditions, the closing date of the acquisition is expected to be July 1, 2014. Forest stockholders who hold shares through a bank, broker, trust company or other nominee may have an earlier election deadline and should carefully review any instructions received from their bank, broker, trust company or other nominee.
As previously announced, Forest stockholders can elect to receive, for each of their shares of Forest common stock, either cash, Actavis ordinary shares, or a combination of cash and Actavis ordinary shares. The cash and stock elections will be subject to proration and adjustment procedures, which are further described in the Joint Proxy Statement/Prospectus of Actavis and Forest, dated May 2, 2014. The documents necessary for Forest stockholders to make an election for their merger consideration were mailed beginning on May 30, 2014.
As further described in the election forms, to make a valid election, Forest stockholders must deliver to Computershare Trust Company, N.A., the exchange agent for the transaction, prior to the Election Deadline, a properly completed election form and related letter of transmittal, together with their Forest stock certificates or confirmation of book-entry transfer, and a completed Internal Revenue Service (“IRS”) Form W-9 (or the appropriate IRS Form W-8, as applicable). Forest stockholders should carefully read all the election materials provided to them before making their election.
Forest stockholders with questions regarding the election procedures, who want up to date information on the Election Deadline or who wish to obtain copies of the election materials may contact MacKenzie Partners, Inc., the information agent for the transaction, at (800) 322-2885 (toll-free) or (212) 929-5500 (collect).
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