Reykjavik, Iceland, 11 May 2007 ― Actavis Group (OMX: ACT) announces that the expected voluntary takeover offer made by Novator, an investment vehicle led by the Chairman of Actavis, Bjorgolfur Thor Bjorgolfsson, is to be reviewed by directors on the Board of the Company. In addition, a fairness opinion will be sought from an independent advisor after a formal binding bid has been published to shareholders. Actavis announced on 10 May that a voluntary offer had been made by Novator with the intention of acquiring the entire A class shares of Actavis at a price of EUR0.98 per share (equals to ISK85.23 per share, based on Icelandic Central Bank Fixing Exchange Rate for Euro on 9 may). The directors will evaluate the offer and give its recommendation to shareholders, based on the fairness opinion of the independent advisor, includes Sindri Sindrason, Magnus Thorsteinsson and Baldur Gudnason (alternate director of the Board). Actavis Chairman Bjorgolfur Thor Bjorgolfsson, Andri Sveinsson and Actavis CEO, Robert Wessman, will not be involved in the recommendation that will be made to shareholders. A further announcement will be made to the market as soon as the fairness opinion has been obtained and considered by the Directors. For further information: Actavis Group Halldor Kristmannsson, VP Corporate Communications (+354) 535-2300 / 840-3425 hkristmannsson@actavis.com 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 capitalization is approximately EUR3.3bn and it's listed on the OMX Exhange in Iceland. For further information, visit www.actavis.com
- Directors of Actavis to review takeover bid and obtain fairness opinion
| Source: Actavis Group hf.