Actavis

Actavis' Board recommends Novator's revised offer

Published in Healthcare Finance, Tax and Law Weekly, July 11th, 2007

The Board of Actavis Group notes the revised voluntary offer that Novator has made today to acquire A class shares of Actavis. Novator is an investment firm led by Bjorgolfur Thor Bjorgolfsson, Chairman of Actavis.

Under the terms of Novator's revised offer, Actavis shareholders would receive EUR1.075 per share. This represents a premium of 19.6% to Actavis's share price on 9 May 2007, the day immediately prior to Novator's announcement of its initial offer, which was subsequently published on 1 June 2007. The revised offer represents an additional10.6% increase on the initial offer of EUR 0.98 per share.

Additional cash payment clause

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Source: Healthcare Finance, Tax and Law Weekly (2007-07-11)

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