Actavis and Forest Receive U.S. FTC Clearance for Actavis’ Proposed Acquisition of Forest

DUBLIN & NEW YORK--(BUSINESS WIRE)--Actavis plc (NYSE:ACT) and Forest Laboratories, Inc. (NYSE:FRX) today announced that the U.S. Federal Trade Commission (FTC) has voted to approve Actavis’ proposed acquisition of Forest. The vote in support of the transaction follows Actavis and Forest’s agreement to a proposed consent order, pursuant to which the companies have agreed to divest certain products as a condition to obtaining FTC approval. The closing of the transaction remains subject to other customary closing conditions, and is expected to be effective on July 1, 2014.