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Andrx Holders Approve Watson Deal

Stock quotes in this article: ADRX , WPI , BRL  

Generic-drug maker Andrx (ADRX Quote) says its shareholders have endorsed a $25-a-share buyout from rival Watson Pharmaceuticals (WPI Quote).

Shareholders of Andrx, based in Fort Lauderdale, Fla., voted Wednesday on a deal that should be completed in the third quarter, the companies said. Watson is based in Corona, Calif.

The $1.9 billion cash transaction must be approved by the Federal Trade Commission, which has twice asked the companies for more information, most recently in early May. For the deal to close, "other various conditions" must be met. The companies didn't provide details. ...

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