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Article: Medicis Requests That Inamed Recommend Rejection of Allergan Exchange Offer.
- Article from:
- Business Wire
- Article date:
- November 22, 2005
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SCOTTSDALE, Ariz. -- Medicis (NYSE:MRX) today announced that it has formally given notice to Inamed Corporation's (NASDAQ:IMDC) board of directors requesting it recommend to Inamed stockholders that they reject Allergan Inc.'s (NYSE:AGN) exchange offer. Allergan's publicly announced offer is to exchange all outstanding shares of Inamed for either $84 in cash or 0.8498 of a share of Allergan common stock.
Under the existing merger agreement between Inamed and Medicis, unless Inamed's board of directors recommends on or before December 6, 2005, that Inamed stockholders reject Allergan's exchange offer, Medicis will have the right to terminate its proposed merger ...