Allergan pays $15m for failing to disclose Actavis ‘white knight’ offer

The SEC said yesterday that Allergan (NYSE:AGN) will pay a $15 million fine for failing to disclose its 2014 merger talks with Actavis.

In June 2014, Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) offered a tender bid for the Irvine, Calif.-based company which was followed by a 7 month-long hostile pursuit by Valeant and co-bidder Pershing Square Capital Management. In November 2014, Allergan publicly announced that it had accepted a $66 billion takeover bid from Actavis.

Get the full story at our sister site, Drug Delivery Business News.

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