Reykjavik, Iceland, 1 June 2007 ― Further to the announcement on 10 May,
Actavis Group (OMX: ACT) confirms that it has received a formal voluntary offer
from Novator, an investment firm led by Bjorgolfur Thor Bjorgolfsson, Chairman
of Actavis.
Under the terms of Novator's proposal, Actavis shareholders will receive
EUR0.98 per share (ISK85.23 in cash based on the Icelandic Central Bank Fixing
Exchange Rate for the Euro on 9 May 2007).
Actavis' Board of Directors, excluding Bjorgolfur Thor Bjorgolfsson, Andri
Sveinsson and Robert Wessman, are currently evaluating the offer and will make
a recommendation to shareholders no later than 8 June 2007. Shareholders are
advised to take no action until the Board makes its recommendation.
A full copy of the offer document is available on www.actavis.com.
For further information:
Actavis Group
Halldor Kristmannsson, VP Corporate Communications
(+354) 535-2300 / 840-3425
hkristmannsson@actavis.com
About Actavis
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 39 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