Furiex Stockholders Approve Acquisition by Actavis; Ukrainian Antimonopoly Committee Clears Proposed Merger
01 Luglio 2014 - 9:15PM
Business Wire
The stockholders of Furiex Pharmaceuticals, Inc. (NASDAQ: FURX)
voted today at a special meeting of stockholders to adopt the
previously announced agreement and plan of merger, dated as of
April 27, 2014, providing for the merger of Furiex with an entity
now controlled by Forest Laboratories, LLC, a subsidiary of Actavis
plc (NYSE: ACT). Actavis completed its acquisition of Forest
Laboratories, Inc. on July 1, 2014. The votes cast by Furiex’s
stockholders in favor of the proposal to adopt the merger agreement
represented approximately 79.85% of Furiex’s issued and outstanding
common stock entitled to vote as of May 29, 2014, the record date
for the special meeting.
Furiex today also announced that it has received notice of
clearance of the proposed merger from the Ukrainian Antimonopoly
Committee.
The receipt of the approval of Furiex’s stockholders of the
proposal to adopt the merger agreement and clearance by the
Ukrainian Antimonopoly Committee satisfy two of the conditions to
consummation of the proposed merger. The consummation of the merger
remains subject to certain other closing conditions set forth in
the merger agreement and discussed in detail in the definitive
proxy statement filed with the U.S. Securities and Exchange
Commission by Furiex on June 4, 2014 and supplemented on June 23,
2014, but is expected to occur in the near future.
About Furiex
Furiex Pharmaceuticals is a drug development collaboration
company that uses innovative clinical development design to
accelerate and increase value of drug development programs by
advancing them through the drug discovery and development process
in a cost-efficient manner. Our drug development programs are
designed and driven by a core team with extensive drug development
experience. Furiex collaborates with pharmaceutical and
biotechnology companies and has a diversified product portfolio and
pipeline with multiple therapeutic candidates, including one Phase
III-ready asset, one compound in Phase III development, one
compound which is with a partner pending regulatory approval in
Japan, and four products on the market. Furiex’s mission is to
develop innovative medicines faster and at a lower cost, thereby
improving profitability and accelerating time to market while
providing life-improving therapies for patients. For more
information, visit www.furiex.com.
Safe Harbor for Forward-Looking Statements
This press release, in particular statements regarding the
proposed transaction between an affiliate of Forest Laboratories,
LLC (as successor to Forest Laboratories, Inc.) and Furiex, the
expected timetable for completing the transaction, future financial
and operating results, benefits and synergies of the transaction,
future opportunities for the combined company and any other
statements about Forest Laboratories, LLC or Furiex managements’
future expectations, beliefs, goals, plans or prospects, includes
forward-looking statements that are based on certain beliefs and
assumptions and reflect the current expectations of Furiex, Forest
Laboratories, LLC, and their respective management. Statements that
are predictive in nature, that depend on or relate to future events
or conditions, or that include words such as “believes,”
“anticipates,” “expects,” “continues,” “predict,” “potential,”
“contemplates,” “may,” “will,” “likely,” “could,” “should,”
“estimates,” “intends,” “plans” and other similar expressions are
forward-looking statements. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. Forward-looking statements involve known and unknown
risks, assumptions and uncertainties that may cause actual results
in future periods to differ materially from those projected or
contemplated in the forward-looking statements, and you should not
place undue reliance on these statements. Some of the factors that
could cause actual results to differ materially from current
expectations are: the ability to consummate the proposed
transaction; any conditions imposed on the parties in connection
with the consummation of the proposed transaction; the occurrence
of any event, change or other circumstances that could give rise to
the termination of the agreement relating to the proposed
transaction; Furiex’s ability to maintain relationships with
employees and third parties following announcement of the proposed
transaction; the ability of the parties to satisfy the conditions
to the closing of the proposed transaction; the risk that the
proposed transaction may not be completed in the time frame
expected by the parties or at all; and the risks that are described
from time to time in Furiex’s reports filed with the SEC, including
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K, and on general industry and
economic conditions. Furiex disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Furiex Pharmaceuticals, Inc.Media/Analysts/Investors:Sailash
Patel, 919-456-7814sailash.patel@furiex.com
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