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Article: Inamed and Medicis call-off merger plans.(INAMED Corp. terminates its merger with Medicis Pharmaceutical Corp.)(INAMED Corp.'s propsal for buying Allergan Inc.)(Brief Article)
- Article from:
- Pharma Marketletter
- Article date:
- December 19, 2005
CopyrightCOPYRIGHT 2005 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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California, USA-based Inamed has announced the mutual termination of a merger agreement with Medicis Pharmaceutical and its wholly-owned subsidiary Masterpiece Acquisition, which was initiated earlier in the year (Marketletter March 28). On December 13, both firms entered into a merger-termination agreement which immediately ended the acquisition process. In addition, the agreement stipulated that Inamed pay a $90.0 million termination fee and $481,985 in expense reimbursement fees to the Scottsdale, Arizona-headquartered firm.
Allergan offer meets with board approval
In related news, Inamed's board of directors has given its support to the recent offer ...