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news.The US Federal Trade Commission has approved Allergan's proposed acquisition of Inamed Corporation. This approval was the final antitrust approval required for the acquisition.
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Allergan expects to complete its exchange offer for the outstanding shares of Inamed common stock on March 10, 2006, the currently scheduled expiration time for the exchange offer.
In the exchange offer, Allergan is offering to exchange for each outstanding share of Inamed common stock, either $84 in cash or 0.8498 of a share of Allergan common stock. 45% of the Inamed shares tendered will be exchanged for cash with the other 55% of the shares to be exchanged for shares in Allergan.
“We are pleased to have received US antitrust approval from the FTC, and we look forward to rapidly completing the Inamed acquisition so we can initiate our integration plan,” said David Pyott, Allergan’s chairman of the board and CEO.