Andrx Corp.'s (Nasdaq ADRS) stockholders agreed to its purchase by Watson Pharmaceuticals Inc. (NYSE WPI), the companies said on Wednesday.
Upon closing, each outstanding Andrx common share will be converted into the right to receive $25 in cash, without interest, and Andrx will become a wholly owned subsidiary of Watson, the companies said in a joint statement.
Watson had agreed to buy Andrx for $1.9 billion in March.
Upon closing, each outstanding Andrx common share will be converted into the right to receive $25 in cash, without interest, and Andrx will become a wholly owned subsidiary of Watson, the companies said in a joint statement.
Watson had agreed to buy Andrx for $1.9 billion in March.
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