REYKJAVIK, Iceland, May 10, 2007 (PRIME NEWSWIRE) -- Actavis Group (OMX:ACT) confirms that it has received an announcement from Novator, an investment firm led by the Chairman of Actavis, Bjorgolfur Thor Bjorgolfsson. Parties related to Novator, currently hold approximately 38.5% of total A class shares. Novator's intention is to acquire the entire class A common shares of the Company.
A new Company within the Novator Group intents to make a voluntary bid to all A class shareholders of Actavis in Euros. The offer price will be EUR 0.98 per share, which at the Icelandic Central Bank Fixing Exchange Rate for the Euro on 9 May, equals ISK 85.23 per share.
The Board of directors will review the offer as soon as feasible and make its recommendation to shareholders.
Information about the offer can be seen in the attachment.
About Actavis Group
Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in more than 30 countries, with over 11,000 employees. The Company's market cap is approximately EUR3.0bn (US$3.8 billion) and it's listed on the OMX Exchange in Iceland. For further information, visit www.actavis.com