December 21, 2005 |
Irvine-based Allergan Inc., maker of the Botox anti-wrinkle treatment, agreed to buy Santa Barbara-based Inamed Corp., which last week ended an agreement to be acquired by Medicis Pharmaceutical Corp., for $3.42 billion in cash and stock. Inamed shareholders would get either $84 in cash or 0.85 Allergan share per Inamed share, or an equivalent combination of stock and cash. Forty-five percent of the deal would be in cash and 55% in stock. The deal is expected to close in January.
December 16, 2005 |
Inamed Corp. said its board had unanimously approved Botox maker Allergan Inc.'s $3.2-billion offer in a deal that would allow Allergan to expand its wrinkle-treatment product line. Inamed, which also makes breast implants, said it hadn't signed the agreement, which wouldn't be finalized until Irvine-based Allergan said it was satisfied with its investigation of Inamed's wrinkle smoother Juvederm. Santa Barbara-based Inamed this week agreed to pay a $90-million breakup fee to end its $2.
December 14, 2005 |
Medicis Pharmaceutical Corp. ended its agreement to acquire Inamed Corp. on Tuesday, allowing rival bidder Allergan Inc. of Irvine to proceed with a $3.42-billion buyout offer. Santa Barbara-based Inamed, which makes breast implants, paid a termination fee of $90 million to end an agreement reached March 20, Medicis officials said. Allergan, the maker of Botox anti-wrinkle treatment, announced its competing offer Nov. 15. Medicis dropped its bid, currently valued at $2.
December 7, 2005 |
Cosmetic surgery product maker Inamed Corp. said Tuesday that its board of directors had concluded that a proposed $3.2-billion takeover bid from Botox maker Allergan Inc. was superior to an earlier offer it had accepted from Medicis Pharmaceutical Corp. But Inamed said it would remain neutral on the Allergan offer, abstaining from making any recommendations to its shareholders, until its pending pact with Medicis was terminated.
November 23, 2005 |
Wrinkle treatment maker Medicis Pharmaceutical Corp., which is seeking to buy breast implant maker Inamed Corp. of Santa Barbara, said Tuesday that it asked Inamed's board to rally shareholders to reject a sweeter offer from Allergan Inc., the Irvine-based maker of Botox wrinkle smoother. Investors read the move as largely procedural in the unfolding battle for control over products that erase the signs of aging.
November 21, 2005 |
Mentor Corp. said Sunday that it had made an unsolicited takeover offer for Medicis Pharmaceutical Corp., a Scottsdale, Ariz., drug maker that is embroiled in a bidding war of its own for Inamed Corp. Official word of the all-stock bid, which Mentor said valued Medicis at $2.2 billion, came after Medicis released a statement saying its board had received an offer from Mentor and unanimously rejected it.