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Stock Market & Financial Investment News

News Breaks
June 30, 2014
08:33 EDTFRX, ACTActavis, Forest announce merger consideration election results
Actavis (ACT) and Forest Laboratories (FRX) announced the preliminary results of the elections made by stockholders of Forest regarding their preference as to the form of merger consideration they will receive in connection with Actavisí pending acquisition of Forest. Subject to regulatory approval and other customary closing conditions, the closing of the acquisition is expected to be effective on July 1. Based on available information as of the Election Deadline, the preliminary merger consideration election results are as follows: holders of approximately 13.81% of the outstanding shares of Forest common stock elected the Standard Election Consideration; holders of approximately 0.44% of the outstanding shares of Forest common stock elected the Cash Election Consideration; holders of approximately 72.78% of the outstanding shares of Forest common stock elected the Stock Election Consideration; holders of approximately 12.97% of the outstanding shares of Forest common stock failed to make a valid election prior to the Election Deadline, and therefore are deemed to have elected the Standard Election Consideration.
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