Actavis, Forest Labs Get Second FTC Request For Merger Information

(RTTNews) - Actavis plc (ACT) and Forest Laboratories, Inc. (FRX) said Thursday that they have each received a request for additional information from the Federal Trade Commission in connection with Actavis' pending acquisition of Forest.

The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Actavis and Forest have substantially complied with the request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.

Actavis and Forest said they plan to cooperate fully with the FTC and that they continue to expect the deal to close in mid-year 2014.

In February, Actavis agreed to buy rival drug maker Forest Labs for about $25 billion in cash and stock.